This episode of the Planet Money podcast delves into the economic effects of immigration through two insightful case studies. It begins with the Chinese Exclusion Act of 1882, revealing how limiting Chinese immigration actually harmed the economy of the Western U.S., contrary to what was expected. The discussion then shifts to research highlighting the positive contributions of immigrants to economic growth. These contributions come in various forms, including talent, consumer spending (notably a "novelty effect"), tax revenue, investment—both from their home countries and within the U.S.—and innovation. The podcast argues that current U.S. immigration policies are outdated and ultimately detrimental to the economy.
