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> But as supply grows then demand shrinks and if you’re importing supply at the same rate as demand then wages are flat and if faster then wages drop. No, this
by astrange 3y ago
> But as supply grows then demand shrinks and if you’re importing supply at the same rate as demand then wages are flat and if faster then wages drop.
No, this is the lump of labor fallacy. People /are/ demand and you can't treat them like commodities. What matters are if immigrants have complimentary skills to natives, which they generally do.
> Australia is incredibly restrictive with immigration
1/3 of Australia's population are immigrants! They can be restrictive relative to their starting population and amount of land sure, but in absolute terms that's still a lot.
- nemo44x 3y ago> No, this is the lump of labor fallacy It’s literally the first rule of economics. Don’t midwit this…