West Chester Economist Mark Zandi Pens Sensible Immigration Essay

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Mark Zandi. Millennial health is worsening faster than previous generations, which could have dire economic consequences, according to the new Moody’s Analytics report.--via openmarkets.cmegroup.com
A sign in France declares the dignity of those seeking a better life--via Forbes.com
A sign in France declares the basic dignity of those seeking a better life–via Forbes.com

In a feature for Philly.com, West Chester’s Mark Zandi, the Chief Economist of Moody’s Analytics, takes a look at the immigration crisis and its possible effects on the nation’s economy.

Talking about the growing immigration problem that sees more and more people forced to flee their homes and seek refuge in the U.S, Zandi notes that while he understands the knee-jerk reaction to erect a fence and keep everybody out, the decision could prove detrimental for the country’s economy.

While some politicians have been lobbying for the deportation of undocumented immigrants who are already in the country, Zandi argues that taking the opposite road and helping them reach citizenship would be a better choice for the future growth of the economy.

“First, there is no feasible way to force millions of undocumented people to return to their countries of origin,” writes Zandi. “This would prove extraordinarily disruptive to the wide array of American companies where these people work. Paying for this mass deportation would also cost U.S. taxpayers a bundle.”

He also notes that by providing these people with a path to achieving citizenship, they could find employment that would utilize their true skills, making them both earn and spend more, and in the process pay more taxes.  Zandi then goes a step further, arguing that allowing more skilled workers into the country will prevent a sharp slowdown in economic growth, which otherwise might be imminent.

“The large baby-boom generation is quickly headed toward retirement, with some already there,” he writes. “Without more migrants to replace them, our biggest problem in a few years won’t be unemployment, but a severe shortage of qualified workers.”

Zandi also points out that the usual argument against naturalization of immigrants because they take Americans’ jobs is wrong, as the majority of work performed by immigrants is menial, whether it is in construction, agriculture, housekeeping or landscaping. He instead emphasizes that it is the immigration workforce that is keeping the price of fruit, vegetables and childcare low. He also questions the myth that immigrants are a burden on U.S. taxpayers, saying that the taxpayer funds spent on government services legal and undocumented immigrant use is dwarfed by the taxes they pay.

He concludes that “we should embrace all those who want to build a life here, not turn them away.”

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