Economic History Lessons We Should Heed?

Two recent columns in Bloomberg you may have missed.

An op-ed  looks back at the Great Recession, and at economists’ analyses regarding whether legal changes that caused sharp drops in immigration may have played a part, by shrinking both the labor supply and also consumer demand and demand for housing.

A separate column points out that labor shortages in the U.S. are compelling employers to raise wages and hire populations they might have overlooked in the past.  He notes that “demand for workers simply outstrips what the U.S. population can meet”, and that immigration must be part of the solution.