Dwight R. Lee makes a “modest proposal” for solving the immigration problem — A Market for Citizenships:
First consider the fact that America’s homeless and panhandlers (who are often different people — some homeless don’t panhandle and some panhandlers aren’t homeless) are actually quite wealthy. Almost all own an asset — their United States citizenship — that is worth several hundred thousand dollars. The problem is that they are denied the right to sell that asset.Citizenship in the United States is a highly valuable asset because it gives its owner enormous productive potential. American citizens are able to take advantage of the opportunities to combine their ambition, ingenuity and labor with an unparalleled capital base and other hard-working and talented people to create wealth. The homeless and panhandlers in America have clearly failed to use their citizenships as productively as many non-U.S citizens could, and would, if they became citizens. This is where freedom and market exchange are relevant. When people are free to buy and sell, markets do an impressive job directing assets to those who will make the most valuable use of them.
The suggested policy is straightforward. Simply give Americans the right to sell their citizenships to non-Americans, with the sellers having to leave the country and the buyers allowed to move in with all the rights and opportunities of any other U.S. citizen.