OT >> I can foresee capital flight out of US, both human capital and investment capital.
Both kinds of flight will happen regardless of the result of any election. Foreigners will find the US much less hospitable, and the US will find foreigners much less desirable.
But aside from that, talented people will find more opportunity in their country of birth, than was available in the 20th century. Which means productivity will increase by leaps in such places as China, Russia, India and Eastern Europe.
Since the 1930's, the US had been attracting the most intelligent and educated people in the world. That had two complimentary effects.
1- the US position in science, industry and weaponry was enhanced.
2- But the much larger effect was that talent was drained from everywhere else, and so the rest of the world stayed far behind.
Now both effects will be reversed.
There is plenty of native talent in the US to replace the foreigners who will stay home, but that's not the problem. The larger effect is that those other countries will retain their best people and will quickly reduce the gap in productivity, industry, and in developing sufficient defense to scare off wannabe emperors.
Pride comes before a fall. We're in the season of pride. |
