The Political Economy of World Mass Migration

In this study, Jeffrey G. Williamson examines the political economy of immigration backlash and immigration policy in two global centuries. The first, between 1820 and World War I, was a proglobal environment, characterized by booming trade, labor, and capital markets. It was followed by an antiglobal and autarchic retreat between 1914 and 1950. Williamson finds that the second global century has moved to reclaim world integration in trade and capital markets, but immigration policy in high-wage countries has not tried to reclaim an open stance.