While people from poor countries seek to live in places like the USA because of its stable institutions and welfare state, could migration of people from stable countries to less-developed ones make those countries better off?
One doubts that the so-called Inflation Reduction Act will reduce inflation. However, it will wreak havoc on the US economy with its lethal mix of taxes, regulations, subsidies, and outright crony capitalism.
An enduring progressive myth is that thanks to Western technologies and compassionate NGOs, American agricultural scientists saved the developing world via the Green Revolution. Not surprisingly, the truth is found elsewhere.