Source: Free Association
by Sheldon Richman
“In a recent interview with Nathan Goodman of the Mercatus Center at George Mason University, Professor Michael Clemens, a GMU specialist in migration economics, put forth ‘a strange and striking fact about the world economy.’ A lower-skilled person’s location in the world can make a significant difference in how much wealth he creates, not just for himself but for society in general. According to Clemens, few people appreciate that, say, a poor shoeshiner in Haiti could earn far more money doing the same work in a wealthy American city because his customers, who are rich by world and historical standards, have much to gain by paying the Haitian to free up their time. By the law of comparative advantage, even a CEO who can shine shoes better than anyone would benefit from paying the shoeshiner.” (10/03/25)
https://sheldonfreeassociation.blogspot.com/2025/10/tgif-free-movement-inreases-wealth.html