Monday, May 30, 2011
Immigration Article of the Day: "The Challenge of Immigration: A Radical Solution" GARY S. BECKER and DIANE COYLE
"The Challenge of Immigration: A Radical Solution" Institute of Economic Affairs Monographs Occasional Paper No. 145 GARY S. BECKER, University of Chicago - Department of Economics, University of Chicago - Booth School of Business. DIANE COYLE, University of Manchester - Institute for Political & Economic Governance (IPEG). ABSTRACT: How can market-based solutions help solve the challenges of immigration? Nobel Prize winner Prof. Gary Becker, in this IEA Occasional Paper, proposes a radical policy which, if implemented by the coalition government, could raise over £600 million a year. Prof. Becker proposes that visas to work in the UK should be sold off. The coalition’s immigration cap scheme could be amended using this proposal to ensure that the most suitable immigrants are allowed in. The people willing to pay the most to live in the UK are likely to be the same people who would contribute most to our economy.