October 31, 2015 – Il Sole 24 Ore published an editorial by SEP Senior Fellow Lorenzo Codogno, in which he discusses the economic and political consequences of the wave of immigration to Europe. He argues that, if managed well, the influx of labor could help increase the area’s potential for growth. Pointing out that refugees tend to be adults of working age who are educated, or at the very least ready and willing to enter the labor market, he asserts that their sudden presence could produce a supply shock with permanent positive effects. Beyond this, immigrants could also create a short-term increase in demand, at first in terms of public services and humanitarian assistance, but later on they will contribute to consumer spending as well.
- The full article (in Italian) is available from Il Sole 24 Ore.