If immigration is open, it doesn’t just benefit the people who move to the UK. It also benefits family members who stay behind—the immigrant will probably send money home.
I’m not an economist, but doesn’t that in turn harm the people who are still in the UK, because money is being moved out of the country rather than being reinvested in the UK economy?
If immigration is open, it doesn’t just benefit the people who move to the UK. It also benefits family members who stay behind—the immigrant will probably send money home.
La Wik knows all: http://en.wikipedia.org/wiki/Remittance
Remittances back to the home country often represent a sizable fraction of a country’s GDP, exceeding all international aid and foreign investments.
I’m not an economist, but doesn’t that in turn harm the people who are still in the UK, because money is being moved out of the country rather than being reinvested in the UK economy?
On the other hand, work is being done in the UK, but money is being taken out—this should lower prices, at least for a while.
The local buyers of competing labor benefit, the local sellers of competing labor lose.
If we’re playing utilitarianism globally with decreasing marginal utility, it’s a win,
If we’re playing nationally, it’s likely a loss.