But the real-world economy is not completely frictionless; it takes time for these effects to occur.

Indeed, it takes time, and for a third world person to reach the productivity of a first world person could take maybe 15 years of first-world education at a bare minimum? So people are not perfectly fungible.

I very much doubt your number. Third world people who go to first world universities do fine, so that's 3 years, not 15. And for many jobs - even a very intellectual one like mine - I'm skeptical how much difference a degree really makes.

If immigrants didn't have the skills that were needed to be productive, companies wouldn't want to hire them. Instead we see companies chafing at the H-1B limits and crying out for more immigration.

Open thread, Nov. 17 - Nov. 23, 2014

by MrMind 1 min read17th Nov 2014329 comments


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