Edward Conard

Top Ten New York Times Bestselling Author

  • “…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 provides a provocative interpretation of the causes of the global financial crisis and the policies needed to return to rapid growth. Whether you agree or not, this analysis is well worth reading.” - Nouriel Roubini, New York University; Chairman, Roubini Global Economics
  • “…serious thinking for serious thinkers. …a thought-provoking blueprint for growing middle- and working-class incomes.” - Mitt Romney, former Governor of Massachusetts
  • “Unintended Consequences represents the most cogent and persuasive analysis of the Financial Crisis to date.” - Andrei Shleifer, 1999 John Bates Clark Medal Winner
  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
  • “Unintended Consequences is far smarter and more thought-provoking than most economics written for the general public” - Greg Mankiw, Harvard University, Former Chairman of the Council of Economic Advisors
  • “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
  • “There are an amazing number of good ideas and interesting points made in Unintended Consequences. The thinking underlying it, and the obvious depth of understanding of the author, are very impressive.” - Steven Levitt, coauthor of Freakonomics; 2004 John Bates Clark Medal
  • “Unintended Consequences offers deep and well-argued analyses on almost every issue.” - The New York Times
  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
Upside of Inequality Oxford Unintended Consequences

AI Summary. The U.S. foreign-born population reached 53.3m, or 15.8% of the population, the highest level in American history, exceeding the shares recorded in 1890 (14.8%) and 1910 (14.7%) during the "Great Wave" of immigration. A four-year increase of 8.3m is larger than that of any four-year period in American history and exceeds the 7.9m increase over the prior 12 years.

Steven Camarota and Karen Zeigler Center for Immigration Studies
Date Posted:
Is Database:
Database

The US foreign-born population rose by 8.3mm between 2021–2025 per Census Bureau data—the largest 4-year gain on record. The total reached 53.3mm, or 15.8% of the population, surpassing the prior peak of 14.8% set in 1890.

Has the foreign-born share of the US population reached a record high?

Core argument: The U.S. foreign-born population rose by 8.3 million from January 2021 to January 2025, a larger four-year increase than any other four-year period in American history and larger than the 7.9 million increase over the prior 12 years.

The numerical increase of 8.3 million in the last four years is larger than in any four-year period in American history. The 8.3 million increase in the four years from January 2021 to January 2025 is also larger than the 7.9 million increase in the 12 years prior. At 53.3 million and 15.8 percent of the population, the foreign-born population is higher now than at any time in American history. The number of immigrants has increased more than five-fold since 1970, and nearly three-fold since 1990, and by more than two-thirds since 2000. As a share of the population, even in 1890 (14.8%) and 1910 (14.7%) during what is often called the “Great Wave” of immigration, the foreign-born were a smaller share of the population than they are today.

Takeaways by Macro Roundup® AI

  1. The U.S. foreign-born population rose by 8.3 million from January 2021 to January 2025, a larger four-year increase than any other four-year period in American history and larger than the 7.9 million increase over the prior 12 years.
  2. At 53.3 million people and 15.8 percent of the U.S. population, the foreign-born population stands higher in both number and share than at any time in American history.
  3. The foreign-born share of 15.8 percent exceeds the 14.8 percent of 1890 and 14.7 percent of 1910 during the "Great Wave" of immigration, with the number of immigrants up more than five-fold since 1970 and nearly three-fold since 1990.

Related Articles:

  • Recent Immigration Surge Has Been Largest in U.S. History — An analysis of government data finds the recent U.S. immigration surge is the largest on record, with net migration averaging 2.4m people a year from 2021 to 2023 and the foreign-born share of the population reaching 15.2% in 2023, up from 13.6% in 2020. About 60% of immigrants arriving since 2021 entered without legal authorization.
  • The Demographic Outlook: 2025 to 2055 — The Congressional Budget Office projects the U.S. population will grow from 350m to 372m over three decades, an average of 0.2% per year, less than a quarter of the 0.9% average annual rate from 1975 to 2024. Deaths are projected to exceed births beginning in 2033, with net immigration more than accounting for population growth thereafter.
  • The Cost of Illegal Immigration — The US foreign-born population rose by 6.6mm to 51.6mm over a roughly three-year span, lifting immigrants to 15.6% of the population, above the prior records of 14.8% in 1890 and 14.7% in 1910. The authors estimate about 13.7mm illegal immigrants now live in the US, a net increase of 3.7mm.
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