Aussie is used defensively (as opposed to cultural separatism) by some Australians as a term of identification for people of the traditional cultural group (of Anglo-Celtic descent). (Wiki)
By this definition, Aussie is Australian born person who has Anglo-Celtic descent. So, if a man born in Australia, but his parents are from Greek or Italian, then he is not identified as Aussie.
Question,
What will happen if Australia has no immigration law since the past, ie Australia only has Aussies today?
If that is the case then:
-Will Australia be more prosperous? better? or worse?

