Immigration and education as debates about capital investment.
Nick Schulz has an interesting introduction to recent work on immigration and human capital that includes this figure:
… Thinking about human capital reminds us that debates about immigration and education are debates about investment.
The original paper is quite interesting, pointing out for example that immigrants tend to start more small companies and “The presence of these skilled immigrants ‘enhances the international competitiveness of the U.S. economy,’ said Barry Chiswick, the chair of the Department of Economics at The George Washington University.”
As an aside, this is one of the primary reasons why I believe that legal immigration into the United States should be simplified and shortened: one should be able to come to the United States and become a legal naturalized citizen within 18 months to three years, and getting a permit to enter the United States on a work visa should be handled as “must grant” on successful completion of a background check, rather than the current “may grant” system subject to a numeric cap.
I mean, hell; on the ground that’s the de-facto state of affairs with illegal immigration, so the only thing a “must grant” system would change is getting immigrants to sign the guest book before hopping the fence.