The Economic Impact of Refugees

Regardless of your political beliefs, there is no denying the impacts of the refugees have on the globe. The anticipation of what refugees can do to an economy have caused European citizens and Americans alike to grow anxious. While countries such as Germany have been welcoming to refugees in the past few months, this is starting to slow do to anxiety. 

The largest fear among Germans is that the cost of labor will change. However, as cited by the Economist, an Oxford University study found a ten percentage point increase in immigrants working low-paying jobs only decreased wages by 2%. While it's good to see that the migrants have served as substitutes job-wise in the European economy, this is also kind of sad to think about. The 'positive' effects of the refugees are 'negative' for the refugees themselves. Sure, after journeying far and wide to search for a new home in a foreign country, many will take any opportunity they can get. For example, there has been an increasing trend of low-educated natives of countries getting different jobs and having the refugees serve as substitutes. For the economy, substitutes has been a good thing. But for locals, this has seemingly given more fuel to the fire of animosity.

Notice the contrast between the two. Frankly, I find it pretty disquieting.

While German authorities have been welcoming in general, the hostility from many Germans has been palpable. Racism here, like any other country, has been embedded in their past. So regardless of the refugees' actual impacts on the economy, there will always be people like the woman in the first picture.

Let's just pretend I already linked it....: http://www.economist.com/news/finance-and-economics/21688938-europes-new-arrivals-will-probably-dent-public-finances-not-wages-good-or