Jeff W. said...
I have finally figured out why The Powers That Be hate immigration restriction so much. I'm sure there are a number of reasons. But one big reason is this:
Western governments for years have been trying to maximize the resources they obtain from money printing. All Western governments have been continually running deficits and financing them with newly-created fiat.
One thing that derails money printing is a wage-price spiral. That's what got going in the 1970's. Around 1979-80, Paul Volcker had to jack up interest rates very high to get inflation back under control.
In the 1980's, The Powers That Be decided that they would continue money printing, but they would also take action to head off a wage-price spiral. So...
- Continuing pressure to add women to the workforce
- Open door import policy to force down U.S. wages
- Open borders.
They succeeded. You never hear about a wage-price spiral anymore.
A protectionist trade policy and immigration restriction would get wages rising, which would make conditions difficult for the money printers. They would have to slow down or even halt their operation. That would be bad for big banks, the military-industrial complex, Social Security, and Medicare.
All of the biggest and most powerful interest groups in America support continued money printing, and that necessitates open borders to keep wages low.