They didn't say in the abstract, but it's labor supply? So we are desperate for a class of near-homeless people to work drudge jobs that all of the immigration was sucked up in our economy?
Why was there a hypothesis of immigration == inflation in the first place? Is that some right wing policy meme for absolving tariffs from inflation?
potato3732842•4mo ago
>Why was there a hypothesis of immigration == inflation in the first place?
I've never even heard of this hypothesis until now.
I think if the right was baselessly peddling it surely the left would be screeching about it and we'd all at least know about it from one side or the other.
Seems like they're answering a question nobody asked.
thehappypm•4mo ago
The hypothesis is true for housing at least. Immigrants need to live somewhere, and that puts upward pressure on rents (which are part of CPI).
user____name•4mo ago
On the other hand, cheap labor lowers labor costs for producers and increased supply should lower the average wage?
thehappypm•3mo ago
While there is validity to this logic, the slightly lower labor cost does not offset the need to house more people, particularly when the cost of land and materials is so astronomical
AtlasBarfed•4mo ago
They didn't say in the abstract, but it's labor supply? So we are desperate for a class of near-homeless people to work drudge jobs that all of the immigration was sucked up in our economy?
Why was there a hypothesis of immigration == inflation in the first place? Is that some right wing policy meme for absolving tariffs from inflation?
potato3732842•4mo ago
I've never even heard of this hypothesis until now.
I think if the right was baselessly peddling it surely the left would be screeching about it and we'd all at least know about it from one side or the other.
Seems like they're answering a question nobody asked.
thehappypm•4mo ago
user____name•4mo ago
thehappypm•3mo ago