This all comes back to employment. Immigration was welcomed - and actively recruited - during the post war expansion when labor was scarce. But when it is economic policy to suppress wages by maintaining a reserve army of labor, demonizing immigrants is easy. Think about it - by far the majority of the derogatory term I have ever heard about immigrants is in some way related to jobs.

The more I look at it, the more it looks like the response to the oil crisis was disastrously mishandled, and we have been paying for it in social ills and reduced productivity - and thus, economic - growth ever since.

.. Okay, new political slogans.

1. The Natural Rate of Unemployment is Zero.
   
2. Wage Growth is Economic Growth.

Investments in increasing labor output are much