Wednesday, April 12, 2017
Nearly 1,500 Economists Say Immigration Strengthens American Economy in Letter to White House, Congress
As Congress and the Administration debate our immigration laws, 1,470 economists signed a letter to President Trump and Congressional Leadership affirming that immigration is good for the American economy. Organized by Douglas Holtz-Eakin of the American Action Forum and the New American Economy; signatories include six Nobel Laureates, members of the Reagan, GHW Bush, Clinton, GW Bush, and Obama Administrations, as well as leading economists from across the country, including: Vernon Smith, Nobel Laureate in Economic Sciences, 2002; Chapman U. Oliver Hart, Nobel Laureate in Economic Sciences, 2016; Harvard University Alvin E. Roth, Nobel Laureate in Economic Sciences, 2012; Stanford University Angus Deaton, Nobel Laureate in Economic Sciences, 2015; Princeton University Lars Peter Hansen, Nobel Laureate in Economic Sciences, 2013; University of Chicago Roger Myerson, Nobel Laureate in Economic Sciences, 2007; University of Chicago Other signers include: Douglas Holtz-Eakin, Former Director of the Congressional Budget Office, Council of Economic Advisers for President George H.W. Bush; American Action Forum Alice Rivlin, Former OMB Director for President Clinton; Brookings Institution Austan Goolsbee, Former Chairman, Council of Economic Advisers for President Obama; University of Chicago George P. Shultz, Former Secretary of State for President Reagan; Hoover Institution; Stanford University Glenn Hubbard, Former Chairman,Council of Economic Advisers for President George W. Bush; Columbia University Jason Furman, Former Chairman, Council of Economic Advisers for President Obama; Peterson Institute for International Economics James C. Miller III, Former OMB Director for President Reagan “The undersigned economists represent a broad swath of political and economic views,” the letter reads. “Among us are Republicans and Democrats alike. Some of us favor free markets while others have championed for a larger role for government in the economy. But on some issues there is near universal agreement. One such issue concerns the broad economic benefit that immigrants to this country bring.” The letter goes on to state that:
- Immigration brings entrepreneurs who start new businesses that hire American workers.
- Immigration brings young workers who help offset the large-scale retirement of baby boomers.
- Immigration brings diverse skill sets that keep our workforce flexible, help companies grow, and increase the productivity of American workers.
- Immigrants are far more likely to work in innovative, job-creating fields such as science, technology, engineering, and math that create life-improving products
Douglas Holtz-Eakin, President of the American Action Forum emphasizes: “this letter is a reminder that support for sound economic policy bridges partisan divides, and that well-crafted immigration policy can support the goals of more rapid productivity growth, economic growth, and middle-class prosperity.” “Immigration is a shot in the arm for the U.S. economy,” said John Feinblatt, Chairman of New American Economy. “The data shows it, and nearly 1,500 economists know it – immigration means more talent, more jobs, and broad economic benefits for American workers and companies alike.”
Read the letter and see a list of the signatories here.