Is Control over Migration an Asset? And If It Is, Who Can Make the Most of It?

“Control over migration” is a valuable asset of which – theoretically – either the country of destination or migrants themselves can dispose.
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Immigration law regulates essentially who owns this asset and how it can be transferred.
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The allocation of this asset in society is of great importance with respect to the level and distribution of its wealth.
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Current immigration law does not allocate this asset optimally. The “pie” is thus much smaller than it could be.
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Invoking the “efficiency” of migration policy is pointless if all of the effects on all of those affected are not taken into account.