Posted on 09/29/2007 7:27:46 AM PDT by conservatism_IS_compassion
A Mexican migrant to the U.S. is five times more productive than one who stays home. Why is that?
. . . It is because the average American has access to over $418,000 in intangible wealth, while the stay-at-home Mexican's intangible wealth is just $34,000.
. . . [Intangible wealth is] factors - such as trust among people in a society, an efficient judicial system, clear property rights and effective government [and education].
. . . Once one takes into account all of the world's [land and] natural resources and produced capital [such as buildings and machinery], 80% of the wealth of rich countries and 60% of the wealth of poor countries nations is of this intangible type.
. . . In the U.S., according to the World Bank Study [Where Is the Wealth of Nations?: Measuring Capital for the 21st Century], natural capital is $15,000 per person, produced capital is $80,000 and intangible capital is $418,000 . . . [whereas] oil-rich Mexico's total natural capital per person is $8,500, produced capital is $19,000 and intangible capital is $34,500.
. . . The big question is . . . How can the people of the developing world rid themselves of the kleptocrats who loot their countries and keep them poor?
Uh . . . certainly that is and always has been the $64,000 question. One thing that doesn't help is the Newspeak designation of nations whose governments systematically suppress intangible wealth as "developing" countries. When what they are is nondeveloping countries. Truth is part of intangible wealth, and kowtowing to those who demand that no one tell the truth is the very last thing that will help.This is in the dead-tree op-ed page, but didn't show up in opinionjournal.com and so I typed this in. It may likely exist in WSJ.com, but I don't subscribe to it and thus wouldn't know.This is IMHO an important article.
Look for some presidential candidate suggest we’re guilty of something for having these intangibles...
Actually corruption or no, the intangible wealth of the developing world has been rising very quickly. I’m really interested to see how the $100 laptop changes the developing world. I expect it to lead to very rapid economic growth.
I think this article is significant.Not only is it clear why Mexicans might emigrate to the U.S., it is clear why Americans who have no desire to persecute people who live in straited circumstances abroad are adamantly opposed to allowing them to export their culture to the U.S.
Got a link?
This is of course on WSJ.com, is copyrighted just like all the other Wall Street Journal content, and is therefore covered by their prohibition on our posting it on FR.
I don’t believe that changes simply because you typed instead of cutting/pasting.
That are just "cut-and-run" cowards that won't "stand and fight" to fix the hell-hole countries they run from.The illegals are quite patriotic. Just for the wrong country. Illegals suck 10.5 billion from America each year and send it to Mexico. They're also, slowly but surely, occupying this country. Raising the mexican flag over New Mexico University wasn't an accident. They intend to take *all* the back into Mexico.
This is of course on WSJ.com, is copyrighted just like all the other Wall Street Journal content, and is therefore covered by their prohibition on our posting it on FR.
I dont believe that changes simply because it was typed instead of cutting/pasting.
An important article, indeed: but what are some other forms of intangible wealth here in the U.S.?
A generally honest police force that does not accept bribes.
Gun rights: if I don’t have a gun, other citizens do, and the criminals don’t know the difference.
A sound currency, banking and financial system.
A military defence which makes foreign invasion a near impossibility.
A generally responsive democratic form of government.
I’ll think of more, later. Maybe a week spent in Mexico will help.
Look for the Democrats to suggest that we tax these intangibles.
We can have WSJ excerpts here. Just not the entire article or column. I later noticed the poster’s comment about typing it from the dead-tree edition.
We make more money here in the US so we should share.
Socialist redistribution of wealth philosophy.
Mexico has a lot of opportunity for it’s citizens.
Corruption has limited the ability of citizens to impove their economics. So it is easier for them to violate the laws of the US by working here illegally.
BTTT
That is all too much libertarian for todays entrenched political class. Any action anywhere without the elites say so is verboten. No telling where it might go. Too bad, Mexico could be liberated in weeks by Mexicans in the US. However the Mexican elite throw such good parties, and they have such nice clean houses, and are light skinned and their kids went to the same New England prep schools as Muffy and Chad. That kind of thing gets in the way, not to mention we wouldn’t want a hiccup in supplies to GM/Ford or payments to Citicorp... Bush, et al think that American 'Soft Power' will work. Yeah right. Just like Euroweenie Soft Power will work in with Saddam, or in Iran, right? I guess the Mexican Joe Shmoe will just have to eat it. Or come to the US and fight in the dirt for an American Joes job mowing the lawn of the elites who have more in-common with their Mexican counterparts.
It's worse than that. Although the following source lists two different figures for remittances sent to Mexico last year, it's still way more than $10 billion.
Migration News
Vol. 14 No. 3, July 2007
That $418 K dollars of intangible wealth is a direct result of the Constitutional government we have inherited from the founders of this nation, and of the moral foundations they laid.
Response to your #12:
Sorry. I realize then that you will have to pull my posting, #16.
So let this be the substitute for it:
http://www.reason.com/news/show/120764.html
http://conservativehome.blogs.com/columnists/2007/09/peter-franklin-.html
Yes, its easier to produce wealth if most of your effort does not have to be diverted to fending off thieves, envious neighbors, and other threats to your life and livelihood. A brilliant flash of the obvious.
More discussion of this at
http://www.poorandstupid.com/chronicle.asp
and
http://www.entrewave.com/freebooks/docs/a_pdfs/gnus.pdf
in chapter 8, entitled Magic, Envy, and Foreign Aid, beginning at page 273 (p 351 in the PDF paging).
It's worse than that. Although the following source lists two different figures for remittances sent to Mexico last year, it's still way more than $10 billion.Doing the jobs that Americans won't do and getting rid of the money Americans won't spend.
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