How to smite Smoot; Trade and migration.(A new study argues that the potential gains from increasing immigration could be even greater than those from more trade)

The Economist (US) | March 29, 2008 | Copyright

Gains from immigration could be even greater than those from more trade

IN JUNE 1930 the Smoot-Hawley tariff act turned a stockmarket collapse into a crippling, decade-long Depression. Now, politicians seem to be preparing for protectionism even while financial meltdown is going on. Barack Obama and Hillary Clinton vie with each other to be nasty about the North American Free-Trade Agreement. Last year the European Union dropped the principle of "free and undistorted competition" from its Lisbon treaty.

All the more reason, then, to welcome a study* by two ...

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