You may worry about cultural change or other things, but a single Jensen Huang or Elon Musk can carry a lot of dead weight. As of October, Nvidia’s market cap was around $3.5 trillion. By way of comparison, all US spending on federal welfare programs was $1.2 trillion in 2022. Nothing in Huang’s family background indicates that they would have been let into the country under a system that only sought proven geniuses, as some restrictionists say they favor. If one wants to take all the human and physical capital assets of some of the most successful companies in the US and toss them into the ocean, they need to have an incredibly compelling reason.
That is from Richard Hanania. I’ll say it again — cost-benefit analysis, cost-benefit, and cost-benefit analysis. Let’s have a little more of it, at the margin of course.
The post Simple points on immigration appeared first on Marginal REVOLUTION.
