Archive for October 21st, 2016

Sentences (#77)

Nick Rowe on the economics of immigration:

“Total Factor Productivity” is not some geological feature like the Canadian shield. There has to be a reason why some countries are rich and other countries are basket cases, and unless you are lucky enough to find yourselves sitting on great reservoirs of oil that someone else will pay you to pump out of the ground, that reason seems to have something to do with social/economic institutions, and social/economic institutions seem to have something to do with people.

(If you want to be a format purist, treat the second sentence as the target, and the first as the lead-in — the emphasis has been juggled to help.)


October 21, 2016admin 61 Comments »
FILED UNDER :Discriminations