POSTED BY vnation editor | Jan, 04, 2018

Yes, it would be disruptive. But the potential gains are so vast that objectors could be bribed to let it happen

A HUNDRED-DOLLAR BILL is lying on the ground. An economist walks past it. A friend asks the economist: “Didn’t you see the money there?” The economist replies: “I thought I saw something, but I must have imagined it. If there had been $100 on the ground, someone would have picked it up.”

If something seems too good to be true, it probably is not actually true. But occasionally it is. Michael Clemens, an economist at the Centre for Global Development, an anti-poverty think-tank in Washington, DC, argues that there are “trillion-dollar bills on the sidewalk”. One seemingly simple policy could make the world twice as rich as it is: open borders.

Source: https://www.economist.com/news/world-if/21724907-yes-it-would-be-disruptive-potential-gains-are-so-vast-objectors-could-be-bribed?fsrc=scn/tw/te/rfd/pe

  • Pierre Morand

    Indeed, when the borders are open, we have to think what will happen. Openness is everywhere in our lives. For instance, closed innovation has left its place open innovation. Firms now receive help from their customers, employees and even their competitors. It would have been wiser to remove the obstacles in front of the openness rather than staying within closed boundaries and having to settle for limited resources. If the companies do not implement open innovation, they cannot survive. So, when will the countries give up fear of openness?