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Economy's Benefit from Recruiting Workers from Other Countries


Discuss whether an economy will benefit from recruiting workers from other countries.


Labor Market and Income Distribution

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I. 🍃Introduction
- Brief explanation of the topic
- Importance of discussing the pros and cons of foreign workers

II. Pros of foreign workers
- Increase in the size of the labor force
- Filling unfilled vacancies
- Increasing output and productive potential
- Willingness to work for lower wages
- Reducing costs of production and prices for consumers
- Becoming more internationally competitive
- Reducing the dependency ratio
- Bringing in new skills/ideas

III. Cons of foreign workers
- Lack of appropriate skills
- Time needed to adapt to new working practices/language
- Downward pressure on wages
- Replacement of domestic workers leading to unemployment
- Pressure on domestic infrastructure, including housing
- Remittances sent home increasing the current account deficit

IV. 👉Conclusion
- Summary of the pros and cons of foreign workers
- Importance of considering both sides when making policy decisions.

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