The Practical Economics and Brain Drain

The term, brain drain, however, have been casually used to describe any number of skilled or well trained people migrated out of a region these days without disastrous qualifiers.

Brain Drain, as was originally coined, refers to emigration of skilled people to North America from post-war Europe^[1].

Thinking back in history, the post-war Europe is in desperate need for rebuilding and, in a short time, there is no way for the region to reproduce these skilled people if they left. The economic impact is tremandous.


To recap the disastrous, substantial number of people were leaving, these people were on desperate needs, and the region can't reproduce these skilled people in a short time.

The term, brain drain, however, have been casually used to describe any number of skilled or well trained people migrated out of a region these days without those disastrous qualities.

To these days, data analysts would wave their magic wands and there comes the number of highly educated people moving out of a region. The number scared people to fight to keep the very last of these people from moving out thinking of inevitable disaster if not to keep them.

However, if we were to practice the practical economics, questions would have been asked: 

• If the number of leaving substantial that would disrupt the economy tremendously?
• If the region is desperate for those highly educated worker?
• If the region could not produce or attract replacement for these skilled worker?

If answers to the above questions are nos, should we panic?

The fundamental of a well-being society do value highly educated citizens for various reasons. The potential high economic production is one, but also the provision of sensible advises and visions to our democratic political system. These advantages and benefits are valued through the overall number of highly educated population but the small number of the migration ones. The measure of the well-being of a society is, therefore, the education attainment.

As to the economic well-being, the first thing in order is to be able to supply the needed worker of the future through the education system. The second thing in order is to produce these workers as efficient as possible including not over supplying workers in less needed fields. The third thing in order is to have a vision in guiding the region to sustainable and plausible economy. The fourth thing in order is then to foster the innovation and entrepreneurship.

** A scenario:
Keeping an integrated circuit designer in Nebraska is of no great value unless he or she was able to sell himself or herself remotely, via internet or something, to chip design companies, which is remotely likely comparing to just physically closer to chip design companies. On the other hand, if, one day, he or she become so successful and re-emigrate back to Nebraska, he or she may be able to pioneer different kind of circuit design company.
 
^[1]Cervantes, Mario; Guellec, Dominique (January 2002). "The brain drain: Old myths, new realities". OECD Observer.