Commentaries (some of them cheeky or provocative) on economic topics by Ralph Musgrave. This site is dedicated to Abba Lerner. I disagree with several claims made by Lerner, and made by his intellectual descendants, that is advocates of Modern Monetary Theory (MMT). But I regard MMT on balance as being a breath of fresh air for economics.
Sunday, 27 September 2015
Dimwit pro-immigration arguments.
This article published by Business Insider is the umpteenth to put the argument that immigrants increase GDP, ergo immigration is beneficial.
Like many idiot articles, this Business Insider article is backed by the deluded Jonathan Portes, head of the National Institute of Economic and Social Research.
As to the GDP point, it’s stark staring obvious that when immigrants move into a country, that country’s GDP will rise (unless every single immigrant refuses to work and just sits around doing nothing).
In contrast, the important question is: what’s the effect on GDP per head?
Seems the distinction between GDP and GDP per head is too difficult for half the elite.
The second moron argument put the Business Insider article is the idea that young immigrants help deal with the ageing population problem. I dealt with that argument here.
P.S. I’ve just decided to write to the NIESR and apply for a job. My letter is below.
Dear Sirs,
I’d like to apply for a job with the NIESR. My qualifications are, first, that I’m thick as two planks. Second I have no interest in economic or social matters. Third, I know nothing about economics. Fourth, I’m not interested in real work: I just want to sponge off the taxpayer.
Hope to have a positive response from you soon.
Yours etc.
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