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Thursday, June 21, 2012

Moneybox: DREAM On

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Moneybox
DREAM On
America needs much bigger, bolder immigration reform—for low-skilled workers, not just supergeniuses—to boost the economy.
By Matthew Yglesias
Posted Wednesday, Jun 20, 2012, at 03:48 PM ET

Last week, the Obama administration reignited the immigration debate with a modest effort to accomplish some of the goals of the DREAM legislation that's languished in Congress for over a year. But while the administration's decision to suspend deportations of certain young illegal immigrants is a huge deal for the people directly impacted, his order affects a very small number of people. It is more a political gesture than a game-changing economic policy, which is too bad, because broader immigration reform—aimed explicitly at allowing more people to come here voluntarily and work, rather than at "securing the border"—remains one of the best things we can do to bolster economic growth in both the short and long terms.

Among those who recognize this, it's become fashionable to focus on the narrow case for immigration of high-skilled workers. Adam Ozimek and Noah Smith recently wrote a wonky piece on this theme for the Atlantic, and Tim Fernholz delivered a more whimsical take for Reuters. But while the case for high-skilled immigrants is strong, and the desire to take the focus off the culturally freighted topic of migration from Latin America politically understandable, an excessive focus on the idea of importing supergeniuses and talented engineers tends to obscure the fact that essentially any able-bodied, hard-working migrant is good for the American economy.

It's not just the doctors and the Google co-founders. Those who mop floors and cook tacos also serve.

That's because different "factors of production ...

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