prudentinvestor

Our Economically Frugal Present

One overlooked factor is the slow down, or even end, of the "brain drain" towards the US. Since the end of WWII, we had the advantage that many of the world's best scientists and engineers lined up to emigrate to the USA. Although this has not come to a complete stop, it has slowed down significantly in the past fifteen years, as the financialization of our economy moved a greater proportion of its economic rewards to the financial sectors and thus away from the science/engineering sectors. Simultaneously, the improvement in the EU economies created greater opportunities for European and developing countries' scientists and engineers in Europe.