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Kathryn Anne Edwards

๐Ÿ‘ค Speaker
608 total appearances

Appearances Over Time

Podcast Appearances

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

You know, this is kind of like losing jobs because of the minimum wage.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

It's not that the pressure isn't there, it just hasn't shown up in a large degree in the data.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

Because if immigrants are growing the economy, they can have a downward pressure on wages, but not actually reduce wages.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

And so there's lots of case studies of high levels of immigration where people look, so what happened to low-wage workers in that locality?

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

Did the rush of immigrants hurt their wages?

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

Probably one of the most famous examples is the Mariel Boatlift.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

which sent a very large number of immigrants to Miami.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

And so what happened to the wage distribution in Miami?

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

Well, the economy grew enough from those new immigrants that the wages of even low-wage workers still grew.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

But even the most ardent anti-immigrant economists would say they grow the economy.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

They would just say it's not worth it for the effect on wages.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

People like me would say the wage effect is probably there but small, and that's why we don't see it.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

Me as a human would say, we talk about immigrants, even in this framework, that they're not like us.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

Should we let them in?

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

Should we not let them in?

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

We are still approaching it as they are different from us on some fundamental level.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

And I think that that is a function of our broken immigration system that we tend to knock them down a peg.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

You know, at the end of the day, these were people that showed up at the border desperate, saying that they were in danger if they stayed at home.

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

What is the answer to that question?

Prof G Markets
Is the Labor Market About to Tip Us Into Recession?

That is something America has not decided.