Borderless Economics

Book excerpt: An editor for The Economist looks at how international diasporas are accelerating and diversifying the flow of ideas, technology, and wealth, improving lives across the globe. A century ago, migrants often crossed an ocean and never saw their homelands again. Today, they call—or Skype—home the moment their flight has landed, and that's just the beginning. Thanks to cheap travel and easy communication, immigrants everywhere stay in intimate contact with their native countries, creating powerful cross-border networks. In Borderless Economics, Robert Guest travels through dozens of countries and 44 American states, observing how these networks create wealth, spread ideas, and foster innovation. Covering phenomena such as how young Chinese studying in the West are infecting China with democratic ideals, to why the so-called "brain drain"—the flow of educated migrants from poor countries to rich ones—actually reduces global poverty, this is a fascinating look at how migration makes the world wealthier and happier.