3 ms·
> Increasing the availability of any kind of labor (whether ordinary programmers, or "great" programmers) always lowers the price, and if it didn't lower the pr
by mvc 12y ago
> Increasing the availability of any kind of labor (whether ordinary programmers, or "great" programmers) always lowers the price, and if it didn't lower the price, there would be no effect.
It turns out that high-wage employees (e.g. software developers) actually benefit from high immigration because of the resulting increase in capital inflows.
http://www.nber.org/papers/w12497 http://www.nber.org/papers/w12497
- swatow 12y agoSure, my claims are actually consistent with this result. I was describing a partial equilibrium effect while the paper is describing a general equilibrium effect.