The economics of immigration: An Austrian contribution

Benjamin Powell ()
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Benjamin Powell: Texas Tech University

The Review of Austrian Economics, 2016, vol. 29, issue 4, No 1, 343-349

Abstract: 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.

Keywords: Immigration; Economic calculation; Heterogeneous capital; Human capital (search for similar items in EconPapers)
JEL-codes: F22 F55 J61 J68 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/s11138-015-0336-6

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