The Immigrant in My Basement Bryan Caplan By Bryan Caplan, Dec 2 2008 SHARE POST: When I advocate open borders (and I mean truly open borders, not the 95% closed borders of the U.S.), critics often respond like EconLog reader Carter did: [Caplan] said: “But there are literally billions of lower-skilled workers who would love to move to the First World” There are hobos who would love to move into your basement. No doubt there are. And if the hobos were willing to pay me high enough rent, I would be happy to have them as tenants, and U.S. law would not object. In contrast, if a low-skilled foreigner offers me a suitable rent for my basement, and I accept his offer, U.S. law still refuses to let my willing tenant move in. Now you might say that I’m just being difficult. Of course immigrants aren’t going to move into people’s basements without their consent; the point is that Americans shouldn’t have to live in the same country with people they don’t like. If that’s your point, though, I’m just going to be more difficult. It’s reasonable to insist that people get your permission to come to your home. It’s absurd to insist that people get your permission to live in your neighbor’s house* – much less than people get your permission to live in a hundred-mile radius of you. That’s on par with the schoolyard bully’s grievance that “You’re breathing my air.” We should see it for what it is – a flimsy pretext for naked aggression. * Unless your neighbor contractually agreed to such restrictions, of course.
Dec 2 2008 EconLog How Good is Larry Summers' Judgment? David Henderson Many economists, including me, think that Larry Summers is quite bright. But how good is his judgment? In my most recent Forbes.com article, "Larry Summers' Judgment," I address this issue. I highlight two things: 1. His 1982 prediction, co-authored with Paul Krugman, that the inflation rate would rise by five perc... 7 Read More
Dec 2 2008 Finance: stocks, options, etc. Tuesday, December 9 on Capitol Hill Arnold Kling I received this from Congressman Henry Waxman: Dear Dr. Kling: I am writing to request your testimony at a hearing on December 9,2008, at 10:00 a.m. before the Committee on Oversight and Government Reform. The hearing will examine the financial collapse of Fannie Mae and Freddie Mac, their takeover by the federal gov... 32 Read More
Dec 2 2008 Economic and Political Philosophy The Immigrant in My Basement Bryan Caplan When I advocate open borders (and I mean truly open borders, not the 95% closed borders of the U.S.), critics often respond like EconLog reader Carter did: [Caplan] said: "But there are literally billions of lower-skilled workers who would love to move to the First World" There are hobos who would love to mov... 52 Read More