I don't think we can have democracies that work where most of the people are not benefiting economically, where most of the people are worried about their job security.
Joseph StiglitzRead
Free migration within Europe means that countries that have done a better job at reducing unemployment will predictably end up with more than their fair share of refugees. Workers in these countries bear the cost in depressed wages and higher unemployment, while employers benefit from cheaper labor.
Interpretation
What this quote means
The quote highlights the economic consequences of free migration, particularly how certain countries may benefit at the expense of local workers.
Joseph Stiglitz's quote underscores the complexities of free migration within Europe, suggesting that nations with successful unemployment reduction attract a disproportionate number of refugees. While employers in these countries may gain from cheaper labor, local workers may face negative impacts such as decreased wages and increased job competition, ultimately leading to a challenging economic environment. This illustrates the need for a balanced approach to migration that considers both the benefits and costs to host countries.
Themes
MigrationEconomyRefugeesLaborUnemployment
In practice
Example use cases
In a debate about immigration policies, this quote can illustrate the impact on local labor markets.
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