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Friday, June 22, 2007

The Value of a Mexican

The title sounds like a bad joke but Slate.com took it seriously and did the math. There's this idea out there that "Americans should care more about their countrymen than about a bunch of foreigners." Well, let's just assume this is true. Then the question becomes how much more$?$

"Surely there's some limit; virtually nobody thinks, for example, that Americans should be allowed to hunt Mexicans for sport. So, exactly how much are you willing to hurt a foreigner to help an American? Is a foreigner's well-being worth three-quarters as much as an American's, or half as much, or one-quarter as much?"

"Virtually all economists agree that immigration makes us richer, not poorer. Every immigrant is a potential trading partner, a potential employee, and a potential customer. He bids down wages, but that's a two-edged sword: It's bad for his fellow workers, but it's good for employers and good for consumers."

After doing some pretty daunting economic analysis looking at the hourly wage benefit to a immigrant worker and loss to an American worker the bottom line is:
The immigrant gains $7 an hour, which as "actually worth about five times the American's $3 loss. In other words, to justify keeping the immigrant out, you'd have to say he's worth less than one-fifth of an American citizen."

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