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Rich Immigrants

Paul Krugman and Chris Dillow both post interesting blog entries today, and the intersection of the two is even more interesting, I think. Krugman notes that London seems to be becoming a "rentier city", where the global rich from Russia or India or Arabia live off wealth made elsewhere. Dillow, meanwhile, notes that the African soccer players for Arsenal FC are much more likely to encounter racism in Bucharest than they are in London. Economic growth and success, he says, go hand in hand with tolerance.

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