Alan Greenspan on Immigration

March 16, 2007

Bloomberg News (here) reported on March 13 that former Federal Reserve Chairman Alan Greenspan said allowing more skilled immigrants to work in the U.S. would help keep the income gap from widening. Inequality of incomes is the “critical area where capitalist systems are most vulnerable,” Greenspan said today in Washington at a conference on maintaining the competitiveness of U.S. capital markets convened by Treasury Secretary Henry Paulson. “You cannot have a system that we have unless the people who participate in it believe it is just.”