Matt Yglesias has given me something to mull over:
If I were the government of Japan and people were offering to lend me money for ten years at a 1.4 percent interest rate, I wouldn’t be thinking about austerity, I’d be thinking about what useful investments could I make to seize advantage of this attractive opportunity.
I would tentatively argue that a case can be made for increased immigration as a useful investment. Would the costs (i.e. social services, the right-wing screaming Easter Sunday) outweigh the benefits? I would love to see some real policy analysis on the subject.
I would love to have a crack at an analysis myself *nudge nudge, wink wink*
I'll get my coat.