Migration and the Welfare State

political-economy, policy formation

Nobel laureate economist Milton Friedman once noted that free immigration cannot coexist with a welfare state. A welfare state with open borders might turn into a haven for poor immigrants, which would place such a fiscal burden on the state that native-born voters would support ...

Foreign direct investment

analysis of aggregate flows

The 1990s saw global flows of foreign direct investment increase some sevenfold, spurring economists to explore FDI from a micro- or trade- based perspective. "Foreign Direct Investment" is one of the first books to analyze the macroeconomics of FDI, treating FDI as a unique form ...

The decline of the welfare state

demography and globalization