Thursday, May 13, 2010


Financial Times:

Immigrant workers in the US have started sending more money back to their home countries after cutting back sharply last year, yet another sign that the global economy is showing resilience.

You see, when the economy is good, immigrants send money back to their home countries. When the economy is bad, they can't. But in neither case can immigrants afford to live in their home countries, nor could these economies persist without remittances. This tells us something about "the global economy," and what it does for humanity.

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