Do you believe that labor is a market that does not generally behave like other markets in terms of supply and demand for price discovery? Do you believe that immigration did not increase supply by more than it increased demand? I’m trying to tease apart and understand your certainty that there is no downward pressure on wages from immigration.
Immigrants also grow the economy and so create jobs. They participate in the economy as consumers and as entrepreneurs. Maybe a way to think about it that might help is to imagine a country containing only you. Would your job be safe?
Imagine if you will two countries, one poor and one well off. What happens if you merge them? The average salary drops, GDP per capita drops, tax revenue per capita drops, will infrastructure and welfare spend per capita rises.
You might believe that it will catch up at some point, but no body think this will take less than a few generations.
Who benefits in the meantime? The largest corporations, the ones whose size is only limited by the size of the country. So not your local restaurant.
Do you believe that labor is a market that does not generally behave like other markets in terms of supply and demand for price discovery? Do you believe that immigration did not increase supply by more than it increased demand? I’m trying to tease apart and understand your certainty that there is no downward pressure on wages from immigration.