|13-11-2012, 11:54 AM||#31 (permalink)|
Join Date: Jun 2012
Answer to economic growth is sometimes immigration or immigrants for e.g Consider the case of United States it became an economically powerful nation becuase of immigrants.. one example is wave of Jewish immigrants led to major growth in 4 areas 1) Banking 2) Hollywood (studios were owned by them) (so entertainment?) 3) Medical field ..some of the major hospitals are/were owned/started by them 4) Press / Newspapers.
This is one example were immigrants significantly improved the economic growth of the country.
TO put it short if the immigrants bring innovation or being inventive to the nation the economy of the country they go to improves (USA till 1970) and if the immigrants are immigrating to get better jobs and better lives(nothing wrong with that btw) and not being inventive or don't bring innovation to the table the economy of the country may not improve..One example is last innovation Internet which led to a great economic period in the 90's till 2000
2) Yes, New business does create net growth for the country. It may not be directly but it does. When you start a company and if your product is good lots of people buy it which leads you to expand your operations, makes you hire more people , persons hired have more spending power, consumer buying power improves and country economic condition improves....i rushed there but you get the gist..
3) Outsourcing. I don't have an answer.
1) It improves the economy of "outsourced to" nations like BRIC Phillipines, Ireland (was once a robust economy) etc. Improves the lives blah blah blah
2) Cheap products (in terms of price) for the "outsourcing countries" consumer.
3) More profit for the companies.
Less jobs for the people in the "outsourcing countries". Counterpoint to this is usually a) there is actually no skilled people b) Labour cost is too high. Middle USA is in bad shop as all the manufacturing jobs have been shipped to China.
Biggest con of all is innovation is done outside of "outsourcing contries" let us take for e.g US they know people in China and India can do the research for less cost and this has lead to stagnation in USA with nothing new in the horizon to kick-start the economy like Internet did in the 90's..
In the same token if countries like China and India to be competitive in the long run they need get out of the "service-oriented" mindset to product development and innovation. As they say tap can be turned off anytime..
My longest post
Last edited by doesitmatter; 14-11-2012 at 07:34 AM.
|13-11-2012, 12:18 PM||#32 (permalink)|
Join Date: Aug 2006
Another example of immigrants contributing towards economic growth in the US (and to an extent, in Canada as well from what I've observed) - How Indians defied gravity and achieved success in Silicon Valley | VentureBeat
|13-11-2012, 09:32 PM||#33 (permalink)|
Hall of Fame Member
Join Date: Aug 2010
I read a report when I was in Malaysia which basically said that India would be the fastest growing economy in the world and by some distance if the endemic corruption wasn't slowing it down so much.
The above numbers are pretty impressive
And smalishah's avatar is the most classy one by far Jan certainly echoes the sentiments of CW
Yeah we don't crap in the first world; most of us would actually have no idea what that was emanating from Ajmal's backside. Why isn't it roses and rainbows like what happens here? PEWS's retort to Ganeshran on Daemon's picture depicting Ajmal's excreta
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