Summary This paper asks whether history can inform modern debate about immigration's impact on high wage economies. It examines the relationship between migration's labor market impact and capital flows before 1914, the first global era. It then assesses the effects of immigration on wages and...

International migration in the last half century is often characterised as following an inexorable upward trend that can only be stemmed by tougher immigration policies in the rich OECD. This view fails to pay sufficient attention to the supply-side forces that drive emigration from poor to rich...