[In an attempt to form a solid opinion on immigration and economics to an extent, this is the first of a series of posts on immigration. As always, I'm open to correction.]
When the issue of immigration rose its head on last week's IE.Pod, it seemed as if Pat Rabbitte harboured a hostility to immigration not because he feels it unsustainable, nor because he fears ghettoisation, as it were, but because he sits polar to the interests of business. Couched behind claims of cheap labour, Pat Rabbitte is reluctant on immigration because business isn't.
Theoretically, ideas to the effect that immigration will only lower the average wage of workers are wrong. The law of supply and demand would imply, on the face of it, that wages would fall. But that's the face of it. The arse says otherwise; while new workers add to the supply of labour, they also consume products and services, and as such they also add to the demand for labour. It would take some time for the economy to adjust to this fact, but eventually it would adjust; new Polish shops are built, new schools of English are setup, and in the longer term, more houses and apartments are erected. While prosperity lasts, the main issue is actually one of finding literal space.
When the issue of immigration rose its head on last week's IE.Pod, it seemed as if Pat Rabbitte harboured a hostility to immigration not because he feels it unsustainable, nor because he fears ghettoisation, as it were, but because he sits polar to the interests of business. Couched behind claims of cheap labour, Pat Rabbitte is reluctant on immigration because business isn't.
Theoretically, ideas to the effect that immigration will only lower the average wage of workers are wrong. The law of supply and demand would imply, on the face of it, that wages would fall. But that's the face of it. The arse says otherwise; while new workers add to the supply of labour, they also consume products and services, and as such they also add to the demand for labour. It would take some time for the economy to adjust to this fact, but eventually it would adjust; new Polish shops are built, new schools of English are setup, and in the longer term, more houses and apartments are erected. While prosperity lasts, the main issue is actually one of finding literal space.
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