In the New York Times
A new study that will be presented today to the National Academies, the nation’s leading advisory groups on science and technology, suggests that more and more research work at corporations will be sent to fast-growing economies with strong education systems, like China and India.
…Instead, the report found that multinational corporations were global shoppers for talent. The companies want to nurture close links with leading universities in emerging markets to work with professors and to hire promising graduates.
I will repeat… the ongoing development of the third world into a highly educated, skilled part of the world is not a bad thing. It is not a bad thing for freedom, for democracy, for capitalism, for humanity or even for humans in the United States. (I’ve riffed about outsourcing previously here)
Will some americans come out worse as technology development is globalized? Undoubtedly. But most Americans will adapt and prosper. We are famously adaptive to changing market conditions, and I don’t see this as any different.
We are on the cusp of so many wonderful developments – in nano-manufacturing, solar energy, fusion, genetics, circuit design… imagine if there were twice as many brilliant, creative people working on these problems, for the same (or only slightly more) than it costs now. Isn’t that going to be a massive boon to humanity? Aren’t well-educated masses a key foundation of democracy?
(Hat tip: Jotzel.
Update: Matt Yglesias points out this companion article – India is facing a skilled labor shortage.