I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
Alan GreenspanRead
We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ] if we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
Interpretation
What this quote means
Embracing immigration of skilled workers can benefit the economy and reduce income inequality.
Alan Greenspan argues that welcoming skilled labor from around the world could help increase the labor pool that educational institutions have struggled to provide. This influx would not only enhance economic productivity but also potentially lower wages for skilled jobs, thereby decreasing income inequality.
Themes
ImmigrationSkilled LaborIncome InequalityEconomyWages
In practice
Example use cases
During a debate on immigration policy, one might quote this to advocate for more skilled labor.
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Most high-income people in our country do not realize that their incomes are being subsidized by their protection from competition from highly skilled people who are prevented from immigrating to the United States. But we need such skills in order to staff our productive economy, so that the standard of living for Americans as a whole can grow.
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