Working Papers
The Anatomy of Capital Returns over the Very Long Run: Germany, 1465–2025
Economics Working Paper 26128
November 6, 2026
Published: August 2, 2017
Trade and immigration are good for the U.S. economy. Free trade allows Americans to buy better goods at lower prices and provides bigger markets where we can sell our own goods. More immigration leads to economic growth and improvements in our standard of living. The logic that isolation and protectionism will create more American jobs is misguided and detrimental to economic growth.
Discussion Questions
- Why does the United States currently favor family reunification over employment when it comes to permanent residency limits?
- Why is there an anti-immigration sentiment when immigration is promoting economic growth?
- What can we do to preserve our current trade policy?
Additional Resources
- Read John Cochrane’s chapter “Trade and Immigration” in Blueprint for America here.
- You can find the rest of Blueprint for America here.
- For more on trade from John Cochrane, click here.
- For more on immigration from John Cochrane, click here.
Related
Articles
We Know Price Setting Leads To Disaster, But We Still Do It Every Year In Medicare
How do prices work in functioning markets?
November 4, 2026
Articles
Data Center Siting And Community Opposition
Where data centers locate to fuel the growth of artificial intelligence (AI) is of burgeoning political importance with economic and environmental implications. We highlight local factors associated with siting and opposition.
November 3, 2026