In the affairs of humans, not everything falls neatly into
place. Take money, for instance. Is it an inherent
parameter or an expressly transcendent one? Making
money indicates the existence of some merit, some
inherent advantageous traits of the money-making
individual. To make money consistently, a person needs
to be diligent, resilient, hard working, to prevail and
overcome hardships, to be far sighted and to possess a
host of other - universally acclaimed - traits. On the other
hand, is it fair when someone who made his fortune
through corruption, inheritance, or luck - be preferred to a
poor genius?
That is a contentious issue. In the USA money talks.
Being possessed of money means being virtuous and
meritorious. To preserve a fortune inherited is as difficult
a task as to make it in the first place, the thinking goes.
Thus, the source of the money is secondary.
An oligarchy tends to have long term devastating
economic effects.
The reason is that the best and the brightest - when shut
out by the members of the ruling elites - emigrate. In a
country where one's job is determined by his family
connections or by influence peddling - those best fit to do
the job are likely to be disappointed, then disgusted and
then to leave the place altogether.
This is the phenomenon known as "Brain Drain". It is one
of the biggest migratory tidal waves in human history.
Capable, well-trained, educated, young people leave their
oligarchic, arbitrary, influence peddling societies and
migrate to less arbitrary meritocracies (mostly to be found
in what is collectively known as "The West").
This is colonialism of the worst kind. The mercantilist
definition of a colony is a territory which exports raw
materials only to re-import them in the form of finished
products. The Brain drain is exactly that: the poorer
countries are exporting raw brains and buying back the
finished products masterminded, invented and
manufactured by theses brains.
Yet, while in classical colonialism, the colony at least
received some recompense for its goods - here the poor
country is actually the poorer for its exports. The bright
young people who depart (most of them never to return)
carry with them an investment of the scarce resources of
their homeland - and award it to their new, much richer,
host countries. This is an absurd situation, a subsidy
granted reluctantly by the poor to the rich. This is also one
of the largest capital transfers (really capital flight) in
history.
Public-domain text, read in full here on John Shaqi.
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