Janet Yellen's Stance on Immigration Favors Growth Over Prosperity
Published:
Wed, Feb 15th 2017 @ 3:07 pm EST by Eric Ruark
Janet Yellen said on Tuesday during testimony before the Senate Banking Committee that “slowing the pace of immigration probably would slow the growth rate of the economy.” One does not have to be Chair of the Federal Reserve to grasp the concept that adding more people to the U.S population through immigration will result in a larger U.S. economy, and that slowing the pace of population growth may result in a slower pace of economic growth. That’s an axiomatic assertion.
What Yellen does not seem to grasp, or isn’t concerned about, is that quantitative economic growth is subordinate to qualitative economic considerations; or, put another way, how much we grow is much less important than measures of widespread economic prosperity – and this is disturbing coming from someone who is the Chair of the Federal Reserve.
Here is Yellen’s statement on immigration in a broader context:
https://www.numbersusa.com/blog/janet-yellens-stance-immigration-favors-growth-over-prosperity
