The economics of immigration: An Austrian contribution

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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.

Original languageEnglish
Pages (from-to)343-349
Number of pages7
JournalReview of Austrian Economics
Issue number4
StatePublished - Dec 1 2016


  • Economic calculation
  • Heterogeneous capital
  • Human capital
  • Immigration


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