A new study published this month in the American Economic Review: Insights found that immigrants are more frequently involved in founding companies of all sizes, compared to native-born Americans. Co-authored by MIT economist Pierre Azoulay, the study determined that, per capita, immigrants are about 80% more likely to open a new business, compared to U.S.-born citizens. On average, those firms also have about 1% more employees than those founded by U.S. natives. News.MIT.edu

The current labor shortage is driven by multiple factors such as early retirements, lack of affordable child care for workers, population trends, and Covid fears. However, as we noted last Fall, the Bureau of Labor Statistics and the Federal Reserve Bank of St. Louis has documented that the immigration policies of the Trump administration exacerbated the problem. Washington Post: "Immigration inflows slowed sharply during the Trump administration and then collapsed under the

One of America's greatest advantages is that the world's best and brightest still want to come here to work, live and built new businesses. President Joe Biden wants to use that advantage to drain Russia of its top science talent by relaxing some visa requirements. New York Times: "An administration proposal sent to Capitol Hill as part of a larger package requesting $33 billion in spending on the war would suspend for four years the requirement that scientists applying for v

Two new reports strongly suggest that the anti-immigration policies of the Trump administration and America's cratering fertility rate are undermining the short and long-term economic prospects of the United States. The current labor shortage is driven by multiple factors such as the lack of affordable child care, early retirements, and Covid fears. However, a new report from the Bureau of Labor Statistics and the Federal Reserve Bank of St. Louis documents how the immigratio

In his book Innocents Abroad, Mark Twain suggested that, ‘travel is fatal to prejudice, bigotry, and narrow-mindedness, and many of our people need it sorely on these accounts. Broad, wholesome, charitable views of men and things cannot be acquired by vegetating in one little corner of the earth all one’s lifetime.'” As with many things, Twain was correct. Research has demonstrated that individuals that travel extensively become more trusting of foreigners. I suspect that man

A new study to be published in American Economic Review found that immigrants are twice as likely to start businesses compared to the native-born population. The researchers analyzed IRS records between the years 2005 to 2010 and determined that .83% of immigrants in the workforce started new businesses compared to .46% of native-born individuals. They aren't taking jobs from Americans; they are creating new ones. American Economic Association: "The findings suggest that immi