| ▲ | keeda 20 hours ago | |||||||||||||||||||||||||||||||
> The election was fully determined by inflation. Biden made a reasonable (though incorrect) bet that full employment was more important than price stability. There is credible theory (shared by a very balanced labor economist I follow) that the immigration crisis helped tame the inflation crisis, besides boosting the economy enough for a soft landing: https://fortune.com/2024/04/12/immigration-inflation-economy... Also some studies for and against this theory: - https://www.imf.org/en/Publications/WP/Issues/2025/01/10/Imm... (Finds inflation lowered.) - https://www.dallasfed.org/research/economics/2025/0708 (No effect on inflation, but yes on GPD growth.) Now, I'm not saying this was always Biden's plan, but the economics are not as straightforward as "employments vs inflation." | ||||||||||||||||||||||||||||||||
| ▲ | tptacek 20 hours ago | parent [-] | |||||||||||||||||||||||||||||||
Right, so, I'm not making a normative claim about the right about of immigration. I don't know if I'd go so far as to call myself an "open borders" person, but I'm very pro-immigration. Pro-immigration in the sense of believing we benefit from the mix of new Americans we get over our southern border, not in the weird doublespeak sense of appreciating skilled immigration from Europe. But from 2021-2023, we experienced a destabilizing sudden amount of immigration. We'd had immigrant-friendly policy during Obama, but I don't recall many dozens of Venezuelan refugees on the doorstep of our Village Hall. Obviously, that happened in large part because southern governors bussed people (often without their informed consent) to northern states. But so what? All that says is that we were experiencing something the southern states had been experiencing all along. My big point here is just: it's not enough to say how strongly you feel about immigration in 2021-2024. Enough people hated it that it motivated a materially important bloc of voters. I disagree with those voters. But I also disagree with people upset about inflation, and I feel like we generally understand that those of us on my side of the employment/inflation question were just, you know, wrong. In an electoral sense. | ||||||||||||||||||||||||||||||||
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