And add to that.....departing from Labor theory economics is part of why we're in the foreign policy mess we're in. You know you fucked up when your country works on an economic theory of "Oh, even if we're digging an absolutely useless hole, laborers will have to be paid for digging the hole and filling it up again, so it's economic stimulus!"
Fuck Keynesianism in every form. Fuck the MIC and fuck the Petrodollar too.
If that were true, then real incomes should have been flat or gone down since population increased from 3 million (during the American revolution) to 325 million (today).
I guess it depends on how much you believe in the principle of liberty. Some people believe they should have the liberty to invite immigrants of different races and mingle with them.
The acid test to be a principled Libertarian is whether you support completely open borders; I mean completely open. In my experience, Libertarians who support enforcement are usually Conservatives that want to smoke weed and maybe fuck hookers.
Economic growth kept pace with (or exceeded) population growth, so it wasn't true then. This has no longer been the case.
Or, liberty to live away from people that don't improve one's quality of life. Dunno about you, but hearing clown polka mariachi music at 2AM is a 'liberty' I can live without.I guess it depends on how much you believe in the principle of liberty. Some people believe they should have the liberty to invite immigrants of different races and mingle with them.
Open borders socialize an entire country into the world's public toilet.The acid test to be a principled Libertarian is whether you support completely open borders; I mean completely open. In my experience, Libertarians who support enforcement are usually Conservatives that want to smoke weed and maybe fuck hookers.
The only coherent libertarian position would be privatized borders. Expanding the franchise of democracy so more people can vote against your interests doesn't make sense.
Then why is population growth the cause of economic stagnation??
Hey, change the channel if you don't like what's on TV. You have the freedom to live in a gated community / safe space and censor the presence of Mexicans (and presumably Black people). I have the right to trade as much saliva as I want with shaved or unshaved Mexican pussy.Or, liberty to live away from people that don't improve one's quality of life. Dunno about you, but hearing clown polka mariachi music at 2AM is a 'liberty' I can live without.
Open borders socialize an entire country into the world's public toilet.
The only coherent libertarian position would be privatized borders. Expanding the franchise of democracy so more people can vote against your interests doesn't make sense.
Basic supply&demand??
Increasing labor supply without a commensurate increase in economic output means no wage growth.
No wage growth + rising costs of living → less savings. And no more middle class. Less savings → less investment, ergo ↓ economic growth.
Consider that there'd have never been a Renaissance without the Black Death. Because rising wages in the aftermath of the plague allowed for the emergence of a middle class and greatly disrupted the wealthy feudal hierarchies who'd been riding high on a mass of cheap labor prior.
With socioeconomic mobility from large numbers of people who can actually save, invest, and own assets… culture tends to follow. Same dynamics can be observed in civilizations of antiquity.
Where I live is fine. But resent being forced to take out a $500,000+ mortgage just to live in a decent area because the govt opened the floodgates to let all this in.Hey, change the channel if you don't like what's on TV. You have the freedom to live in a gated community / safe space and censor the presence of Mexicans (and presumably Black people).
But there is a commensurate increase in economic output. GDP per capita has grown substantially over the past forty years.
Hey, you have the right to feel whatever you like.Where I live is fine. But resent being forced to take out a $500,000+ mortgage just to live in a decent area because the govt opened the floodgates to let all this in.
That sounds pretty dramatic; how are you backing it up?
I looked at a meta-study which concludes that a 1% increase in immigration depresses wages by a "quantitatively small" 0.1% (source = https://researchcommons.waikato.ac.n.../PSC-dp-47.pdf). A blog post by the economist Noah Smith goes on to suggest that the wage dip to immigration might even be nonexistent over the long term due to markets returning to equilibrium (source = http://noahpinionblog.blogspot.com/2016/01/101ism.html).
As for women, this study here suggests that wages actually rise due to their increased participation in the workforce (source = https://hbr.org/2018/01/when-more-wo...luding-for-men).