Edward Conard

Top Ten New York Times Bestselling Author

  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
  • “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
  • “…reminds us that inequality sends a signal of what society lacks most, in America’s case, entrepreneurship and risk taking.” - Lawrence Lindsey, CEO, The Lindsey Group, former Director of the National Economic Council
  • “Unintended Consequences should be read by anyone who takes for granted the superiority of progressive taxation and has not thought carefully about the trade-offs involved.” - The New Republic
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
  • “…serious thinking for serious thinkers. …a thought-provoking blueprint for growing middle- and working-class incomes.” - Mitt Romney, former Governor of Massachusetts
  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
  • “Unintended Consequences offers deep and well-argued analyses on almost every issue.” - The New York Times
  • “A full-throated defense of economic dynamism.” - The Wall Street Journal
  • “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
  • “Unintended Consequences is full of substance, it is one of the must-read books of the year, and once I finish it I will be giving it a second read through right away.” - Tyler Cowen, Professor, George Mason University
Upside of Inequality Oxford Unintended Consequences

AI Summary. Migration to rich countries has reached record levels, with roughly 1.2m people moving to Britain in a year, net migration to Canada more than double its previous record, and net migration to Germany exceeding its 2015 peak. The foreign-born population of the rich world is rising faster than at any point in history.

Economist Staff The Economist
Date Posted:

Advanced economies are facing a wave of immigration, with the foreign-born population of major advanced economies running at the fastest pace in several decades. @TheEconomist

Is migration to rich countries reaching record levels?

Core argument: Britain received 1.2m immigrants last year, almost certainly the most ever, while nearly 1.4m people on net are expected to move to America this year, one-third more than before the pandemic.

Last year 1.2m people moved to Britain—almost certainly the most ever. Net migration (i.e., immigrants minus emigrants) to Australia is currently twice the rate before the covid-19 pandemic. Spain’s equivalent figure recently hit an all-time high. Nearly 1.4m people on net are expected to move to America this year, one-third more than before the pandemic. In 2022 net migration to Canada was more than double the previous record. In Germany it was even higher than during the “migration crisis” of 2015. The rich world as a whole is in the middle of an unprecedented migration boom. Its foreign-born population is rising faster than at any point in history.

Takeaways by Macro Roundup® AI

  1. Britain received 1.2m immigrants last year, almost certainly the most ever, while nearly 1.4m people on net are expected to move to America this year, one-third more than before the pandemic.
  2. Net migration to Canada in 2022 was more than double the previous record, Germany's exceeded levels seen during the 2015 "migration crisis," and Spain's recently hit an all-time high.
  3. The rich world's foreign-born population is rising faster than at any point in history, with net migration to Australia currently running at twice its pre-covid rate.
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