
Poor Countries Are Running Out of Time to Get Rich - pseudolus
https://www.bloomberg.com/opinion/articles/2020-07-26/falling-populations-may-keep-poor-countries-from-getting-rich
======
whack
The article seems to be conflating GDP with GDP-per-capita. A booming
population is an easy way to boost GDP, but a lousy way of growing GDP-per-
capita. Conversely, there's no reason "poor countries" can't grow their
average worker income by investing in education and worker productivity. The
idea that developing nations are "running out of time" is ridiculous - time
has really been their best friend in growing their average income.

~~~
dragontamer
> Conversely, there's no reason "poor countries" can't grow their average
> worker income by investing in education and worker productivity

Emigration.

A highly educated worker will leave a poor nation and instead work in a rich
nation. This is a problem inside of countries too.

Folks from poor parts of the USA move to richer areas to gain a better way of
life.

~~~
ashtonkem
Which actually acts like a transfer of wealth. Education is expensive, and the
assumption has always been that educated citizens help grow their economy and
country.

But when educated citizens emigrate, their new homes get the economic and
cultural benefit of another educated citizen without having to foot the bill
for educating them.

Long story short, the emigration of educated citizens makes a country poorer.

~~~
zozbot234
The transfer of wealth goes both ways, since expats' remittances are a
significant source of income and investment to many developing countries.
Return migration is also common, and a very significant source of benefits to
the home country. It's pretty much a win-win.

~~~
growlist
> It's pretty much a win-win.

Even in strictly financial terms this is a dubious claim.

------
nitwit005
The terrible horror of people in poor countries becoming better educated hand
having fewer children.

This is just the usual silliness of acting like maximizing GDP growth, at the
expense of all other factors, is a good idea.

