Is Brain Drain Worse Than the Alternative?
February 17th 2010 22:00
Over at EconLog, Arnold Kling quotes Laura Freschi arguing against the claim that immigration leads to "brain drain," which is harmful for Africans (my highlighting added):
Even using official figures, which likely far undercount the value of remittances by excluding informal channels, remittances sent back by Africans abroad outweigh the cost of educating them at home. Why pass up a high return opportunity (Africans earning high incomes abroad and remitting) and insist on a low return activity (educated Africans underemployed at home)?
In other words, allowing people to make more money leads to people having more money. Who would have guessed?
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