Fix It Shorts #8. Immigrants: Great for the Economy!

Published: March 1, 2017, 11:39 p.m.

b'When did the arguments for free trade and the benefits of immigration go out of fashion?Why is the case for scaling back the power of the financial industry under attack by the Trump administration? Richard and Jim spoke to three experts for this episode of \\u201cFix It Shorts.\\u201d Rana Foroohar, explains why the power of Wall Street distorts the economy. \\u201cThe key lessons of the crisis of 2008 still remain unlearned,\\u201d she says. \\u201cOur financial system is just as vulnerable as ever.\\u201d\\xa0Rana is the author of "Makers and Takers: The Rise of Finance and the Fall of American Business," She is also the Associated Editor and the Global Business Columnist for the Financial Times."One of the prizes, one of the treasures of democracy is freedom of thought, freedom of action, freedom of movement," says Peter Coy, Economics Editor of Bloomberg Businessweek. He argues\\xa0that immigration, especially legal immigration of skilled workers, is a plus for the economy.Economist Ruchir Sharma, author of the book \\u201cThe Rise and Fall of Nations - Forces of Change in the Post-Crisis World,\\u201d tells us that expanding the workforce is a vital part of growth. Reducing immigration, he says, would slam the brakes on the economy.


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