Three of the Many Big Reasons to Love Immigrants
RealClearMarkets, January 8, 2018
By Ray Keating
In an article for Real Clear Markets, Ray Keating points to the way immigrants add to the U.S. economy -- as workers, entrepreneurs, and consumers.
Keating points to the research of Sari Pekkala Kerr, an economist at WCW, which found that immigrants play a disproportional role in American entrepreneurship. "Immigrants constitute 15% of the general U.S. workforce, but they account for around a quarter of U.S. entrepreneurs (which we define as the top three initial earners in a new business)," wrote Pekkala Kerr and her partner William Kerr in Harvard Business Review.
Keating notes that people tend to misunderstand how the economy works, seeing it as a "zero-sum game," where if one person is gaining, then another must be losing. "But that’s not how the economy works," he writes, "Rather, economic, employment and income growth occur, and the complementary efforts performed by immigrants contribute to that growth process, with benefits accruing to both immigrants and the native born."