Garett Jones - Immigration, National IQ, & Less Democracy

TL;DR

Economist Garrett Jones discusses the impact of migration on culture, democracy, and IQ, highlighting the importance of cultural norms and the role of elites in shaping productivity. He argues against excessive democracy and emphasizes the benefits of technocratic control. The US is seen as a prime example of harnessing diversity for economic innovation.

Transcript

Today I have the pleasure of speaking with  Garrett Jones who is an economist at George   Mason University. He's most recently  the author of The Culture Transplant:   How Migrants Make the Economies They Move To  a Lot Like the Ones They Left and also the   author of 10% Less Democracy and Hive Mind.  We'll get into all three of those books.  Garr... Read More

Key Insights

• ❓ The impact of migration on culture is influenced by both political influence and informal cultural interactions.
• 🖐️ National IQ levels play a role in productivity, with both the median and elite IQ contributing to economic growth.
• 🪛 Independent technocratic institutions, like the Federal Reserve, can drive innovation and economic growth by balancing democratic oversight with expert decision-making.
• 🌍 Europe's cultural diversity poses challenges for democratic governance, as voter preferences may not align with market-friendly policies.
• 🖐️ Bond holders and a brutal bond market can play a vital role in promoting resource allocation towards high-productivity projects.
• 🚕 The US fiscal gap is likely to be addressed through a combination of tax hikes and reduced spending, as well as potential implementation of a value-added tax (VAT).

Questions & Answers

Q: How do migrants influence the culture of their destination country?

Migrants bring cultural values from their home countries, and their presence alone can influence the culture through informal contact and convergence of values.

Q: What is the impact of migrants on high-skilled innovation?

Migrants with high skills can contribute to innovation and positive externalities through their intellectual breakthroughs. However, the cultural impact of low-skilled migration and the potential dilution of elite IQ are factors to consider.

Q: Does migration lead to lower national IQ levels?

The impact of migration on national IQ levels is debatable. While an increase in the variance through migration may suggest a higher deviation, the negative impact on mean and median IQ levels needs to be considered.

Q: How can institutions like the FDA and CDC be improved?

Increasing independence and long-term appointments of experts, as seen in the Federal Reserve, can improve the functioning of institutions like the FDA and CDC. This allows for more technocratic control and insulation from political interference.

Summary & Key Takeaways

• Migration's impact on culture: Jones argues that migrants bring cultural values from their home countries, which can influence the culture of their destination country. Cultural impact can result from political influence and informal contact.

• Democracy and migration: Jones challenges the notion that migration is solely linked to a critique against democracy and highlights the role citizens play in shaping governments and productivity.

• IQ and national productivity: Jones explores the impact of national IQ levels on productivity, suggesting that the upper tail of IQ distribution contributes more to national benefits, while risks associated with the lower tail are probabilistic.

• Technocratic control and innovation: Jones emphasizes the importance of independent technocratic institutions like the Fed in driving innovation, while acknowledging the need for a balance between democracy and expertise.