Nobel Prize-Winning Economist Changes Stance On Immigration

By Daniel Walker | March 22, 2024

Immigration and trade

Nobel Prize-winning economist Angus Deaton has revised his previous support for high immigration and free trade, recognizing their larger unaccounted costs on ordinary citizens.

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via Nobel Prize

While he used to argue that immigration and trade benefits outweighed domestic harms, Deaton now acknowledges prioritizing efficiency over fairness and stability.

Immigration increased

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via TEDx Talks

“I used to subscribe to the near consensus among economists that immigration to the US was a good thing,” Deaton wrote. He noted inequality rose as immigration increased post-1965 and that tradeoffs between foreign and domestic workers were underconsidered.