I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
Alan GreenspanRead
Most high-income people in our country do not realize that their incomes are being subsidized by their protection from competition from highly skilled people who are prevented from immigrating to the United States. But we need such skills in order to staff our productive economy, so that the standard of living for Americans as a whole can grow.
Interpretation
What this quote means
High-income individuals often overlook how immigration policies impact economic productivity and their own earnings.
In this quote, Alan Greenspan points out that many high-income earners in the United States may not understand that their financial success is, in part, a result of protective barriers that limit competition from skilled immigrants. He emphasizes that allowing these skilled individuals to contribute to the economy is essential for overall growth and improved living standards for all Americans.
Themes
IncomeImmigrationCompetitionEconomySkillsProductivity
In practice
Example use cases
During a conference on economic policy, I might cite this quote to discuss the importance of immigration for economic growth.
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