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The economics of immigration: An Austrian contribution

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  • Benjamin Powell

    (Texas Tech University
    Texas Tech University)

Abstract

Any managed migration system will fail to achieve the optimal quantity or mix of immigrants because centrally planning the international labor market suffers from the same epistemic problems that make it impossible to optimally plan any market. In response to the artificial relative price structure, imposed by managed migration systems, the domestic stock of human and physical capital becomes distorted. Managed migration systems also set in motion the dynamics of intervention that lead to further interventions into the economy.

Suggested Citation

  • Benjamin Powell, 2016. "The economics of immigration: An Austrian contribution," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 29(4), pages 343-349, December.
    • Handle: RePEc:kap:revaec:v:29:y:2016:i:4:d:10.1007_s11138-015-0336-6
    DOI: 10.1007/s11138-015-0336-6
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    References listed on IDEAS

    as
    1. J. Clark & Robert Lawson & Alex Nowrasteh & Benjamin Powell & Ryan Murphy, 2015. "Does immigration impact institutions?," Public Choice, Springer, vol. 163(3), pages 321-335, June.
    2. George J. Borjas, 2015. "Immigration and Globalization: A Review Essay," Journal of Economic Literature, American Economic Association, vol. 53(4), pages 961-974, December.
    3. Michael A. Clemens, 2011. "Economics and Emigration: Trillion-Dollar Bills on the Sidewalk?," Journal of Economic Perspectives, American Economic Association, vol. 25(3), pages 83-106, Summer.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Immigration; Economic calculation; Heterogeneous capital; Human capital;
    All these keywords.

    JEL classification:

    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
    • J68 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Public Policy

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