Wednesday, October 30, 2013
World of Finance: Immigrants and the economy-7
I mean mixed in the since that not all the immigrants who come to their host countries have been successful and in fact some have relied on welfare for a long time. But to say that all the economic immigrants are that way and have not assimilated (whatever that means) into their newly adopted societies is unfair. There will always be tension between native born and the people coming from abroad as witnessed in the U.S. between the immigrant supporters and anti immigrants and also in the U.K. even between the British and the other European and Non European immigrants and similarly in Greece, France, Italy and Spain and other advanced countries. But some of the immigrants have become very successful and have created many jobs and it seems like if they were not there, we would not have been able to enjoy a technological revolution since the immigrants are inherently risk takers. Let me explain it clearly, by immigrating to strange lands and leaving their families and familiar surroundings behind and sometimes uprooting their families is in itself a great risk as you don’t know what you would encounter in your new environment. You may have all the knowledge in the world about your new adopted country but unless you are there and face ground realities you are treading in unfamiliar territory. With no family support (sometimes the families are there but they are already too financially strained to help you much) and no friends, these immigrants try to create jobs by themselves (usually). I believe it is the competition that the natives are really afraid off otherwise if it is truly the case then the natives would have been the best entrepreneurs and job creators (which they are anyway) and they would not fear competition.