Wednesday, November 8, 2006

Money Problems

The Asian Development Bank issued a second warning this year that "Brain drain has an impact on foreign direct investment as capital will flow only into economies with perceived adequate supplies of skilled labor in key sectors." Recall how obsessed I have become with production, production, production. It will be tremendously difficult to attract outside money for capital if we do not have the people trained to compete with the rest of the world.

Likewise, "One of the greatest concerns about brain drain is that the continued migration of skilled workers reduces overall productivity." The conclusion is pretty self-evident. What is needed is to become acutely aware that this bonanza of remittances will not last forever and should serve as a bridge while we emphasize programs that will make us self-sufficient.

Note that these concerns are purely from a financial perspective. The post directly preceding this illustrates another social cost that we will have to deal with in the future.

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