Financial Times, October 21, 2012
As a rule, open economies tend to grow faster than closed ones. Those, such as the US, that take the huddled masses to its bosom, have an unbeatable advantage over societies that shut them out. Until they stop doing so, that is.
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It is not so much an immigration regime as a system of spectacularly generous foreign aid. As long as the US continues to subsidise its competitors in this way, there will be reasons to fear the country has taken leave of its senses.
The writer is the chief US commentator of the Financial Times
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