--- Bryan Caplan <[EMAIL PROTECTED]> wrote: > All it claims is that immigrants reduce wages. > But this is by definition balanced by the extra surplus enjoyed by > employers.
If the surplus is general to the economy, then is it not the case that in industries with competitive markets for labor and capital goods, and with substantial competition in the goods markets, providers of labor and capital goods earn their marginal products and firms have zero economic profits, so the surplus goes to land rent? If so then it is not employers qua firms who get the surplus, but the landowners. Firms which rent their premises would get no surplus from being employers. Fred Foldvary ===== [EMAIL PROTECTED]
