Migration powers economic growth, reduces inequalities, and connects diverse societies. Yet it is also a source of political tensions and human tragedies.
If freedom of movement is to be sustainable, then our publics must see it as freedom to move to work, rather than freedom to choose the most generous benefits.
China is investing in factories in Eastern Europe, not because their labor costs are lower, but because they want to be closer to their markets.
At the time of the formation of the euro, I would say most American economists said that's not a good idea; that's not a currency area that makes sense. And the answer from Europe was, 'How is Missouri and Mississippi a currency area?' But the flaw in that was not recognizing the importance of mobility.
The internationalization of capital is making it more difficult for trade union organizations safeguard workers’ interest. It is limiting the ability of the Government … to accomplish the national objectives defined by the democratic process.
If the world operates as one big market, every employee will compete with every person anywhere in the world who is capable of doing the same job. There are lots of them and many of them are hungry.
It is quite plausible that the process of increased fragmentation of production across borders is subject to 'diminishing returns' and has its natural limits.
I don't have farmers I can convert into factory workers.
The main concept is that of an international solidarity expressed in practice through worldwide division of labor: free trade is the principal point in the program of internationalism.
Migrants make huge contributions to both their host countries and countries of origin. They take jobs that local workforces cannot fill, boosting economic activity. Many are innovators and entrepreneurs.
Globalization must be controlled.
NAFTA was conceived to avoid discrimination against goods. A U.S.-Mexico treaty on immigration should be devised to prevent discrimination against people.
We want to have a system where people can come here and work - go back and forth if they want to... so that we have an open door to the people who want to come and contribute to our country, who want to come and make a difference in their families' lives and our economy.
The scientific study of labor economics provided the opportunity for me to unite theory with evidence my lifetime intellectual passion.
Poor laborers from all parts of Asia as well as Africa, the Americas and even Europe are transported by plane each day to wealthier nations where low-tier jobs are plentiful; sometimes the travelers board without even knowing their final destination.
The focus of my administration is, if somebody decides to work abroad, then it has to be from choice as opposed to necessity.
The increased global linkages promote economic growth in the world through two key mechanisms: the division of labor and the international spillovers of knowledge.
With every increase in the power of production, consumption grew, and the labourer received larger returns for his labour, producing a tendency to immigration.
America’s first political economist
I think it is important that we should be on the side of keeping borders open with respect to trade and movement of factors of production.
People are worried about what’s going to happen to their jobs. There’s a lot of off-shoring and out-sourcing taking place. There’s a lot more mobility of labor and of people. Unless we explain what’s happening, people will resort to protectionism and xenophobia.
As we work to promote greater economic opportunity for the American people, we must always remember that the American economy is deeply integrated with the global economy. That brings challenges but even greater opportunities.
Offshoring is only the latest manifestation of the gains from trade that economists have talked about at least since Adam Smith… More things are tradable than were tradable in the past, and that’s a good thing.
Capitalists have the tendency to move toward those countries in which there is plenty of labor available and at which labor is reasonable. And by the fact that they bring capital into these countries, they bring about a trend toward higher wage rates.
The system in which I came up in was that every territory had to have a black, a white... if you went to Texas you had to have somebody that was a cowboy or one that was from Mexico. There wasn't that many Afro Americans in the business at the time so I moved around a lot. But every time I moved around, I made money.
I do favor guest workers, H1B visas and student visas.
