Now that Mr. Alexander has explained what Alan Greenspan didn't say and what he should have said in reference to immigrants and the US economy, I'll stick with Greenspan. I think Mr. Greenspan has a better grip on what drives America’s economy.
Theory is wonderful; economic models are just that - theories and models.
In reality, most areas of the country still need the additional labor provided by immigrants. The local unemployment rate where I live is in the low ranges of 3% - according to older economic models not enough to power growth.
Does everyone profit from the labor of immigrants? Greenspan said emphatically we do. Without them we could easily double our food bills.
Mr. Alexander's letter to the editor, I believe, said, "There is no such thing as a "labor shortage", only a shortage of workers at a price an employer is willing to pay." That's a labor shortage when you've got white collar workers to hire and chickens to cut.
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