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190 sats \ 0 replies \ @SimpleStacker 22 Mar \ parent \ on: Is it a wage shortage or a labor shortage? Immigration impacts NC Construction econ
I agree, the textbook answer ignores a lot of issues.
It does explain why working class natives are more likely to oppose immigration while business leaders are more likely to support it.
Another thing that happens a lot is that economics students only learn this part: trade increases economic output without remembering the part where trade creates winners and losers.
And lastly, you're right... the textbook theory doesn't address at all the actions that developed nations can take to keep developing nations poor, and it doesn't address at all the cultural frictions that come from mass migration.