Lower Productivity Migrant Workers Lowers Per Capita GDP And US Prosperity: My Posted Comment To WSJ Article, "Immigration Wave Delivers Economic Windfall"

My posted comment to The Wall Street Journal article, "Immigration Wave Delivers Economic Windfall. But There’s a Catch. Recent migrants are expected to be lower paid and less productive than predecessors" by Paul Kiernan:

US prosperity is better measured by real GDP per capita than total real GDP. An influx of lower paid and lower productivity migrant workers will decrease output and US prosperity per person when compared to the workers and capital investment they are crowding out. US prosperity is lowered not increased.

[Blog title corrected to replace Capital with Capita.]

Earthquake Probabilities Across The United States: A New Map Shows The Risks

From ScienceNews, "Where are U.S. earthquakes most likely? A new map shows the hazard risks: The map shows the probability of damaging U.S. earthquakes over the next 100 years" by By Nikk Ogasa:

Some 230 million people in the United States face the potential of damaging earthquakes in 100 years, according to the latest U.S. National Seismic Hazard Model, or NSHM. That’s about 40 million more people than the NHSM previously suggested.

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Source: ScienceNews

 

Harvard Professor Greg Mankiw Recommends Fed Stop Giving News Conferences

From Greg Mankiw's Blog, Thursday, February 01, 2024, "Memo to Fed: Stop the News Conferences":

In watching part of Jay Powell's news conference yesterday, I realized that what he is doing to just the opposite of good economics communication. When I write an article, give a lecture, or draft a textbook chapter, my goal is to convey maximum information in the fewest words possible. But when the Fed chair answers reporters' questions, he seems to be conveying the least possible information in the most words possible.***Here is my recommendation: Stop giving news conferences. The Fed's policy decision and statement should stand by themselves. The Supreme Court does not give news conferences after announcing decisions. They explain their judgment once in writing and then let that stand. The Fed should do the same.