Increases in labour force size need to be accompanied by increases in firm-specific plants, machinery and equipment as well as physical infrastructure
Increased immigration can be justified as a solution to aging populations and labour shortages but there are other benefits. There are benefits to a larger economy and internal market size as well as increased clout in a more global world. Moreover, the diversity of a larger population can be a key ingredient in fostering more innovation and trade growth.
In order for larger populations to have positive economic effects, increases in labour force size need to be accompanied by increases in firm-specific plants, machinery and equipment as well as physical infrastructure in transportation and communication – not to mention housing.Bernhard: Immigrants didn’t cause our failings.
Our current immigration boom pales in comparison to that which occurred during the first decade of the 20th century. Annual immigration now represents just 1.5 per cent of Canada’s population compared to the peak years 1912 and 1913 at 5.1 and 5.3 per cent. The equivalent today would mean nearly two million immigrants a year and we are nowhere near that amount.
If in the early 20th century a country with eight million people could accommodate 400,000 immigrants a year and boost productivity and economic growth, then surely at 40 million this industrialized country can do better.
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