An unfortunate consequence of increased wealth is the growth of the parasitic consumptive class of political and cultural elites. Labor migrations often follow in the wake of damage that elites do.
Original Article: Is Migration a Tool of the Consumptive Class?

Migration is part of the wider concept of economic freedom. This makes it desirable if prosperity is the goal of policy. But more applicable to the current attitudes and values of Western leaders than mundane economic arguments, migration presents an opportunity to increase the pool from which they extract real income. This is required in the face of poor demographics and growing socialistic ambitions.
The extraction is achieved by taxation and inflation, which create huge costs to the productive sector regardless of its makeup. In this sense, any large-scale migration is likely to be an example of states coming to the right answer in the wrong way.
Factors Seek the Highest Rent
The mobility of factors of production is always desirable. Migration is simply the mobility of labor over

While unemployment currently is low and the rate of inflation has fallen somewhat, Bidenomics is setting off a boom that is unsustainable. We know what happens next.
Original Article: "Bidenomics: A Boom That Awaits an Inevitable Bust"

Joe Biden recently claimed on Twitter that “Bidenomics” has increased the real wages of low-income workers. A counterclaim was made through Twitter’s Community Notes that wages adjusted for inflation were actually lower at the time of Biden’s claim. But data without theory is unsatisfying, so it is worth asking if conditions of the last few years have been conducive to higher real wages, especially for lower earners.
The Boom
First, we need to establish the current situation. As the Fed has raised its benchmark rate, measures of broad money growth in the United States have been trending downward. But this comes at the tail end of an expansionary boom. In 2020–21, Fed and Treasury policies combined to provide broad money growth that was unprecedented during peacetime. While broad money