Did Immigrant Economists Sink the U.S. Economy?
Most U.S. economists believe globalization is good. The unfettered flow of goods, labor, and intellectual capital across our international borders reduces costs and improves competitiveness of most sectors of the economy. Or so they claim. But the impact of globalization on the economics profession itself raises serious questions about this point of view. Foreign students increasingly dominate U.S. doctoral programs in economics. Although the number of doctorates has remained relatively stable over the past 35 years, the fraction of these degrees conferred on foreign students has increased dramatically -from 20.5 percent in 1972 to 72 percent in 2005. While all disciplines have seen increased foreign enrollment, the rise and size of the non-citizen influx into economics is uniqueexceeding even that of science and engineering. The displacement of native born economists is painfully evident in the trend of doctorates awarded since the mid-1980s: The best and the brightest? Perhaps. Most
