Earlier quoted context omitted.
Why should you care? Possibly because you realize that undercutting your countrymen, the people you have to live with now regardless of whether they are employed or not, is something that makes your actual community now a worse place. Call it self interest, but I want to live in a society that is functional and with neighbors that are happy. The alternative is to retreat further and further into an affluent bubble. T…
As soon as someone immigrates and becomes a citizen they are also your fellow countrymen. Where the next huge industry starts, wherever that happens to be, will define the next super power. Having the US be attractive for foreigners to immigrate to and become citizens raises the odds the US will be that place. I don't want access to the Chinese or Indian stock markets, I want the best of their citizens to want to imm…
Could there be social welfare costs? Rising income inequality? Unemployment of current citizens?
If you want to frame the problem in economic terms, a frank discussion of the risks is mandatory. Right now we usually talk about it like a ca. 2008 banker might have talked about naked credit default swaps. Sure, there might be a risk. But think of how much money we can make!