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Well I suppose we can expect some inflation due to the costs of losing Mexican migrant labor. That could be a start to convince Americans that we need these ki
by mozumder 10y ago
Well I suppose we can expect some inflation due to the costs of losing Mexican migrant labor. That could be a start to convince Americans that we need these kinds of open borders.
But I guess a real open-borders system would require things like common currencies or common judicial system across North America?
- DaUR 10y ago> would require things like common currencies That would be a disaster, and would hurt the dollar and therefore US NatSec and power. https://en.wikipedia.org/wiki/Optimum_currency_area https://en.wikipedia.org/wiki/Optimum_currency_area
- mozumder 10y agoThat doesn't actually state that North America isn't an optimal currency area.
- DaUR 10y agoYou're supposed to look at what an optimal currency area is, and see if it applies. Don't just take Wikipedia's opinion for it. It's not. Cultural, language differences, asymmetric shocks, many reasons why. It would be the same catastrophe as the euro, where the euro is severely undervalued for Germany's economy, unfairly helping their exports, and severely overvalued for Greece, unfairly harming their exports.