How to win the crucial economists' vote

Greg Mankiw, a very well-respected economist and prodigious blogger, had a piece in the New York Times this past weekend about the policies the candidates would adopt if they were courting Economists' votes. I encourage you to read the whole entertaining article, but here's the gist of it:

1. Support free trade
   
2. Oppose farm subsidies
3. Leave oil companies and speculators alone
4. Tax the use of energy
5. Raise the retirement age
6. Invite more skilled immigrants
7. Liberalize drug policy
8. Raise funds for economic research

I'm personally ambivalent/in cautious agreement with number 7, and I imagine number 8 would amount to some heroic pandering to the dismal scientists. That said, I do agree with numbers 1 - 6, and I agree particularly strongly with 1, 2, 4, and 6. There is a lot of material here, but I'll take number 6 right now because it strikes me as the most straightforward case.

Invite more skilled immigrants. Whatever your thoughts on immigration in general, skilled immigrants, particularly younger ones, are a big "get." They generate a lot of economic value. They make a lot of money, a lot of which gets spent in their country of residence, and they pay higher taxes, which go to funding schools, police, Medicare, etc. Like the affluent in general, they are less likely to put a strain on social welfare systems. Finally, there's little worry that they'll take all the jobs away from local workers (don't make me post the South Park clip again.) First, forget the old Lump of Labor Fallacy. Then recall that truly skilled workers tend to be in high demand and have less trouble finding employment. Having more skilled workers in the economy should also increase economic growth, thereby creating more demand for skilled workers overall.

I'll return to some of the other issues in the future, because they're timely and important as the election approaches. Also, I would be interested to see what my esteemed coauthor thinks about some of these issues. And you too, dear reader. Hit up the comments below.

n.b. I do not particularly want to hear from Lou Dobbs, possibly our country's most pompous blowhard. Stick around until about the 2:50 mark, though, because he starts to go on a very angry, hilarious rant: