TY - JOUR
T1 - The economics of immigration
T2 - An Austrian contribution
AU - Powell, Benjamin
N1 - Publisher Copyright:
© 2016, Springer Science+Business Media New York.
PY - 2016/12/1
Y1 - 2016/12/1
N2 - 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.
AB - 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.
KW - Economic calculation
KW - Heterogeneous capital
KW - Human capital
KW - Immigration
UR - http://www.scopus.com/inward/record.url?scp=84953284276&partnerID=8YFLogxK
U2 - 10.1007/s11138-015-0336-6
DO - 10.1007/s11138-015-0336-6
M3 - Article
AN - SCOPUS:84953284276
SN - 0889-3047
VL - 29
SP - 343
EP - 349
JO - Review of Austrian Economics
JF - Review of Austrian Economics
IS - 4
ER -