Tuesday, October 16, 2012

Lanthanum? Unubtanium? What's the Most Valuable Resource.

As readers may have come to realize, my position on the most valued commodity is, in fact, not a commodity at all. I see knowledge workers as the key to success, at the micro-economic level (talented staff, discerning customers), and, as The Economist reports, at the macro level:

THE world’s most valuable resource is talent. No country grows enough of it. Some, however, enjoy the colossal advantage of being able to import it. Rich, peaceful countries can attract clever immigrants. Unlike other useful imports, they cost the recipient country nothing. They come, they study, they work, they set up businesses, they create jobs: 40% of the founders of Fortune 500 companies are immigrants and their children. Yet they are only 23% of Americans.

I've consistently advocated for immigration, both in the U.S. and in the Republic of Ireland, as the secret sauce to boost entrepreneurialism. My grandfather arrived illegally in New York, and made his way to being a successful baker, in spite being an "enemy of the state" during the 2nd World War. He, like many others, chose to be American (nobody chooses their heritage/nationality) -- the hallmark of civilized human rights is the freedom to migrate. And these two countries remain magnets for the talented, the motivated, the (learned or not) quick-witted.

- Posted by Tom/Bluedog

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