Neoclassical Economics Theory

The macro section of Neoclassical Economics theory, in summary, states that the sole purpose of migration pertains to the exceptional imbalance in labor supply, labor demand, which leads to wage differentials in different countries. As a result, workers from low wage countries tend to move to high wage countries, which ultimately leads to the micro section of this theory. Moreover, people act as individuals to make rational choices based on their expectations of the cost and benefits that migrating will produce (Notes 1/22). Individuals perceive migration, according to this section of the theory, to be an investment in human capital. Migration has a tendency to influence where they can be the most productive and have a positive net return.

This meticulous theory describes the migration through the lens of a fairly large family group in deciding the allocation of household resources to prevent the risks of their economic well-being (Notes 1/22). In this case, households decide where individual members of the family will eventually migrate, in order to produce income and be prepared for future market failure. In addition, this specific migration theory also comprises with the idea that often migrants do not often allocate permanently due to the ongoing fact that the whole family does not migrate, therefore, migrants return to their native homes in a constant manner. In my opinion, the strength of this theory is once again the connections that it establishes with migrants. Once more, this particular theory does, in fact, prove that families brainstorm and execute the dispersion of certain family members to different countries, or even within the same one. For instance, my father’s experience consisted of migrating to another country, which allowed him to benefit by

For example, the Bracero program that was fabricated during the 1940s throughout the 1960s. In this case, the Bracero program ultimately became an opportunity for immigrants to permanently settle in the United States. In this characteristic, I would consider it a strength that is found in this theory. It does an exquisite job of explaining the influence of migration due to the fact that if the Bracero program had not occurred, there will be no permanent migration. On the other hand, there are some limitations to this theory. I believe that some limitations could well be the absence of not including the individuals that do not participate in these programs. For instance, what about the individuals that were able to migrate without necessarily participating in a program, such as the

Bracero program? I would consider adding further information that does not exclude the negatives of this particular theory.

In conclusion, it is conspicuous that all of these theories have attempted to explain what influences migration, although not only one will have the sufficient scheme to completely describe the influences on immigration. Nonetheless, these theories do intrigue and capture one’s interest in the various motives of migration, however, in my