The war in Ukraine has had an especially significant impact on the overall well-being of the Ukrainian economy. Physical Capital, Human Capital and Natural Resources have all been destroyed as a result of war’s destructive nature. This will have a very significant impact on the long-run growth of Ukraine’s economy because it is now missing many of the key aspects of productivity which contribute to economic growth. In addition, it has been well documented that hundreds of educated and skilled Ukrainians have decided to move to the United States for several reasons. Firstly, a lot of the physical capital that these workers need to successfully complete their jobs has been destroyed or captured by enemy forces. Secondly, Ukraine is a relatively poorer country when it is compared to the United States, therefore highly skilled workers could make a larger average income if they move to the U.S.. Third, many families found their homes directly in the middle of “no-mans land,” or the area that has the most intense fighting and contains “the land that is unoccupied or is under dispute between parties who leave it unoccupied due to fear or uncertainty” (The Economist). Therefore, civilians who directly feel the impacts of economic hardships feel a need to move to countries such as the United States with higher average incomes in order to achieve successful lives.
Even though it may have a negative effect of Ukraine’s economy, the larger number of Ukrainian immigrants moving to America will ultimately have a positive impact on the overall economy of the United States. American communities and quality of living are both improved when immigrants arrive in the United States because they are like any other American who helps contribute to the overall GDP and success of the economy. Countries are significantly better off when they engage with other countries through immigration, trade and diplomatic relationships because they all contribute to the overall well-being and GDP of their economy. Therefore, I strongly believe that welcoming immigrants such as those from Ukraine is an important American value because they improve our communities and quality of living throughout the United States.
I strongly believe that the economic development of the Chicagoland area has a direct connection with the successes of immigrant families and their children. Families immigrating from Ukraine to the United States have demonstrated their ability to create successful entrepreneurial businesses that directly benefits the overall economy and GDP of the United States. Therefore, I think that welcoming all immigrants and promoting entrepreneurship will continue to have a positive impact on the local economy. I also believe that international trade has the ability to benefit everyone in society since it allows producers to specialize in activities in which they have a comparative advantage. Using the “Nuts 2 U” scenario, we can see that all parties involved here would benefit from internationally trading with each other as long as the trading price stays between each parties opportunity cost. This scenario can also be applied to virtually any other trading instance because the same economic forces are at work- “The principle of comparative advantage shows that trade can make everyone better off” (Mankiw). Therefore, interdependence and trade are both very important beneficial aspects that contribute to every successful economy throughout the world.
Now that I have had a chance to fully study the experiences of Ukrainians who immigrated to the United States, I have a completely different picture of the Ukrainian Community in my head than I had before doing all the research. I now have a tendency to keep track of the news that is happening across Ukraine, because I have found that I really care for the people who live there. I have a few close friends who are Ukrainian, and it’s really interesting how this project gave me a deeper connection with them and the ability to openly talk to them about their own experiences, traditions and nationality. I also think that one of the most important lessons that I have learning while researching this project is to not “judge a book by its cover” and make preconceived notions about a culture by forming an opinion about without adequate evidence. I thought I had a complete understanding of the Ukrainian people, but this project has made me realize that what I knew before I started researching the topic was just the tip of the iceberg.
In conclusion, this project has a contributed to deeper connection that I have with my Ukrainian friends because it allowed me to ask personal questions about their own experiences, traditions, and nationality. I think that it’s extremely important that we invest time in researching the positive affects that immigrant groups have on our society and quality of living. With all of the anti-immigrant rhetoric that is unfortunately more common this year, I think that it’s important that we do not simply label immigrant groups as bad because of the fact that America was founded by a nation of immigrants. Immigrants are at the core of American values, and I also think it’s important that we continue to welcome immigrants from all countries into the U.S. with open arms regardless of their race, ethnicity, nationality, economic status or religion.