Final answer:
If all countries eliminated immigration barriers, global economic growth could increase due to increased labor availability and diverse skill sets, but it could also face challenges due to increased job competition and potential local job market distress.
Step-by-step explanation:
If all countries eliminated all barriers to immigration, it is theorized that global economic growth could potentially increase. This outcome is due to several factors:
- Increased labor availability allows for economies to better match skills with needs, filling crucial gaps in the workforce.
- The diverse skill sets that immigrants bring can lead to innovation and create new business opportunities, contributing to economic expansion.
- However, it is important to consider that immigration can also lead to increased competition for jobs, which may cause distress in local job markets, especially if economies cannot absorb the new labor force swiftly.
Immigration can be a complex issue, and though it holds promise for economic growth, potential negative impacts must also be acknowledged. It's worth noting that, in practice, other economic factors such as regulation, fiscal policy, and global trade dynamics also significantly influence economic growth.