Friday , July 28 2017
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Trump to nominate pro-immigration free-trading globalist as CEA chair

Summary:
Shot:America Needs more workers… With lackluster GDP growth threatening to become our new normal, allowing more immigrants to enter for the sake of employment is one of the few policies that might restore our old normal. If the U.S. doubled its total immigration and prioritized bringing in new workers, it could add more than half a percentage point a year to expected GDP growth.Chaser: Understanding the role of the United States in the global economyLiberalized trade — in broadly multilateral, regional, or bilateral agreements — is a key ingredient in the recipe for prosperity. … An absolute prerequisite for long-term economic growth is full participation in the global economy and trading system.Maybe one more shot, it’s Friday: Analysis of the economic effects of immigration reform … This paper explores the economic consequences of expanded immigration on the U.S. economy. It begins by reviewing the immigration practices of our OECD trading partners, and documenting that immigration, as a share of the work force, is well below international norms. The literature identifying the economic impact of immigration is reviewed, suggesting that economic growth could expand significantly if immigration in the U.S. were expanded.These passages are by Kevin Hassett, the economist who will be nominated by Donald Trump to be the next chair of the Council of Economic Advisors.

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Cardiff Garcia
Cardiff writes mostly about US macroeconomic issues, with daily excursions into other topics about which he claim no expertise. Before Alphaville, Cardiff spent a little more than two years as a reporter at Dow Jones Financial News covering investment banking, asset management, and private equity. Along the way he has written freelance pieces on a variety of other topics from behavioural psychology to Muay Thai, the latter also being a personal interest that involves frequently getting kicked in the shins (and torso, and head).

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