http://www.nytimes.com/2013/02/10/business/how-economics-has-benefited-from-immigration.html?ref=business
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"Until thought is linked with purpose, there is no intelligent accomplishment." (James Allen)
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Greg Mankiw points out today that all Americans are beneficiaries of a policy that welcomed our ancestors when they arrived at the border: "As an economist, I am often surprised at the hostility that some segments of the population express toward immigration. Most members of my profession are far more receptive to it..."
Like many, I believe that immigration is the key to America's demographic future as well as a creative force behind the founding of new businesses. I'm glad the U.S. government is determined to do something about improving the immigrant situation in 2013.
One quick word on the economy. According to a short summary at the end of January in the WSJ, economists, commenting on the 0.1% contraction in overall GDP growth for the 4th quarter, characterized it as one of the "best looking" contractions in memory because it was "small" and because the contraction in military spending was easy to spot. So, GDP, according to the economists, really grew 2.6% without the defense spending and inventory accumulation negatives.
And, we all live at "Disneyworld."
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