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    Close borders and immigrant guest worker program

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    #1 Perform an economic cost/benefit analysis on one of the following issues.
    You must have both 2-3 costs and benefits and conclude whether a net
    benefit or cost exists.

    -Move to government provided national health care system

    -Increase tax rates on the rich (back to pre-2001 levels)

    -Close borders and implement an immigrant guest worker program

    #2 The emergence of China is good for the US economy. Discuss.

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    Solution Preview

    1. Close borders and implement an immigrant guest worker program:

    This is perhaps the most pertinent issue today with the credit crisis throwing a spanner in the labor markets all over the world. The US government passed the recovery bill in March with the catch that schemes implemented under the program will follow a Buy American clause. The question then is whether this is correct? What are the costs that one would incur if we closed the borders? What are the benefits?

    The benefits first:
    (a) This will probably slow down job losses in some sectors of the economy, and revive some sagging companies.
    (b) Immigrant guest worker programs will reduce the skill deficiency in some industries, particularly the sciences.
    (c) Since government spending is usually geared towards public goods, close borders will imply a huge improvement in public services inside the country.
    (d) There will be a renewed sense of purpose in the discouraged workers whose jobs have been shipped outside, and the economy can possibly make good use of this.

    The costs:
    (a) There will be strong retaliation from our trade partners, and the ...

    Solution Summary

    Close borders and immigrant guest worker program are discussed.