I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
Alan GreenspanRead
Significantly opening up immigration to skilled workers solves two problems. The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
Interpretation
What this quote means
Opening immigration for skilled workers benefits companies and promotes income equality.
This quote by Alan Greenspan highlights the dual advantages of significantly increasing immigration for skilled workers. Not only does it enable businesses to hire the educated labor they require to thrive, but it also creates a competitive environment where these skilled workers can negotiate for better wages, ultimately contributing to greater income equality across society.
Themes
ImmigrationSkilled WorkersIncome EqualityEconomyCompetition
In practice
Example use cases
During a conference on economic growth, one might use this quote to emphasize the importance of skilled immigration in fostering a robust economy.
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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.
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I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about.
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Every economy exists, no matter what the level of democracy, has elements of crony capitalism. It's - given human nature and given the democratic structures, which we all, I assume, adhere to, that is an inevitable consequence.
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