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Donald Trump’s deportation agenda overlooks immigration’s role in US success

Infusing new people into the workforce is ‘not just desirable’ but ‘economically necessary’, says chief executive

Migrants make their way toward US law enforcement personnel to begin their immigration process in Texas. Photograph: Verónica G Cárdenas/The New York Times
Migrants make their way toward US law enforcement personnel to begin their immigration process in Texas. Photograph: Verónica G Cárdenas/The New York Times
Proinsias O'Mahony's picture
Proinsias O'Mahony
Sat Nov 02 2024 - 06:15

Donald Trump’s promise to carry out mass deportations is popular with many voters, but a recent note from Research Affiliates chief executive Chris Brightman reminds investors not to be blinded by anger over immigration.

Infusing new people into the workforce “is not just desirable”, says Brightman, but “economically necessary”, with immigrants providing the antidote to the serious problem of depopulation.

Depopulation aside, Brightman notes immigrants have started more than half (44 of 87) of American start-ups valued at more than $1 billion; are key members of management in more than 70 per cent (62 of 87) of these companies; and that immigrants and their second-generation offspring founded nearly half of today’s Fortune 500, including Apple, Google, Amazon, Tesla and SpaceX, and Nvidia.

Brightman’s message: immigration fuels the US’s workforce and its biggest successes.

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