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Are immigrants the unsung heroes of the American dream?

As the midterm elections approach, inflammatory rhetoric about immigration is on the rise, with some candidates and pundits painting a picture of immigrants as a drain on the economy and a threat to American society.

However, a new book by economists Ran Abramitzky and Leah Boustan, "Streets of Gold: America's Untold Story of Immigrant Success," challenges these narratives with comprehensive data on the economic mobility of immigrants and their children. This was covered by The New York Times, which produced a wonderful set of data stories. I recommend clicking the link to have a look.

Using census records spanning over a century, the authors found that the children of immigrants consistently outperform their native-born peers in terms of upward mobility. This success is attributed to two main factors: the drive to surpass their parents' often limited economic opportunities and the tendency of immigrants to settle in regions with strong job growth.

While the share of foreign-born people in the US is at levels not seen since the early 20th century, and many immigrants start at the bottom of the socioeconomic ladder, their children's remarkable ability to climb the ranks remains unchanged. The authors also dispute the notion that immigrants take jobs from native-born Americans, arguing that they often fill roles with little competition or create new opportunities through entrepreneurship and innovation.

Source: The New York Times

Coming up:

• Most of Russia’s frozen assets are held in Belgium

• The share of US companies using various AI applications

• A greater share of women are now in higher wage growth jobs

• China is holding back on coal’s decline

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