U.S. investors cannot safely invest in many poor countries, so the countries’ populations should migrate to the United States, a Republican-aligned economist said.
Throughout the 1990s, economists expected investors in wealthy countries to move job-creating investments to the developing world and, thereby, raise billions of people out of poverty, Douglas Holtz-Eakin, president of the GOP-linked American Action Forum, said.
However, “for any number of reasons — inability to enforce contracts, political problems — the capital [in wealthy countries] really didn’t flow that way. It stayed in these [wealthy] countries,” he said during an October 26 online talk organized by far-left public publication DemocracyJournal.org.
“But economics does abhor a vacuum, and so now the [poor] labor is coming for the capital,” via international migration, according