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That's because in most countries that take refugees, average people own no capital (except maybe housing, an illiquid and unproductive asset) and can only contr
by hx87 10y ago
That's because in most countries that take refugees, average people own no capital (except maybe housing, an illiquid and unproductive asset) and can only contribute labor for income, resulting in a situation where "jobs" are a scarce resource. Now, if ownership of capital were more widespread, refugee labor would be much more welcome.
- sevenless 10y agohttps://en.wikipedia.org/wiki/Lump_of_labour_fallacy https://en.wikipedia.org/wiki/Lump_of_labour_fallacy
- hx87 10y agoIn the long term, yes, but the labor market is quite inelastic in the short term, and without a strong and robust safety net, short term effects dominate for most workers.