The New Economics of Labor Migration

The New Economics of Labor Migration is a theory that views migration not just as individual choices but as part of a household strategy to improve family income and reduce risks. Instead of one person migrating alone, families make collective decisions to send members elsewhere to work, diversify income sources, and increase their overall economic stability. This approach emphasizes social, economic, and policy factors that influence migration, highlighting how migration serves as a tool for families to achieve financial security and overcome local limitations, rather than merely personal opportunity.