Skills Wars Are the New Trade Wars

Подписаться 2,5 млн

Просмотров 897 тыс.

50% 1

This video was made possible by our Patreon community! ❤️
See new videos early, participate in exclusive Q&As, and more!
➡️ / economicsexplained
Trade wars are costing the world trillions of dollars every year, but far less attention is paid to the movement and control of the movement of skills and labour. It is much easier than ever before to take an education and move to a country where workers can benefit personally, but at a certain cost to the country that trained them. Skills wars may be the new trade wars.
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
The Economic Explained team uses Statista for conducting our research. Check out their RU-vid channel: / @statistaofficial
Enjoyed the video? Comment below! 💬
⭑ Enjoyed? Hit the like button! 👍
Check out our second channel Economics Explained Essentials → / @economicsexplainedess...
✉️ Business Enquiries → hello@economicsexplained.com
🎧 Listen to EE on Spotify! 👉 open.spotify.com/show/5TFVUEJ...
Also on Apple Podcasts or anywhere else you listen!
Follow EE on social media:
Twitter 🐦 → / economicsex
Facebook → / economicsex
Instagram → / economicsexplained
TikTok → / economicsexplained
#EconomicsExplained #tradewars #skilledmigration
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏
Support EE by becoming a Patron today! 👉 / economicsexplained
The video you’re watching right now would not exist without the monthly support provided by our generous Patrons:
UPPER CLASS
Jeromy Johnson, Juan Benet
UPPER MIDDLE CLASS
Pineapples&bricks, Adrian Bellomo, Maximiliano Rios, Peter Wesselius, std__mpa, Bac Nguyen, Michael Ling, Stephanie Roth, Frank Soltero, David Poliakoff, Jay Eno, Ryan Foo, Grégoire Duchêne, Sophie G, Brett Jubinville, Anthony Roberts, jill hoffman, Nathan Ngumi, JKH, Post Apocalyptic In Missouri, Constanza de Svastich, Laor Glukhovsky, Kib Bibens-LeFebvre, Forodon, Paul Ashworth, Igor Stavchanskiy, Mcfeld, Wendover Productions, Andrew Harrison, Igor Bazarny.
MIDDLE CLASS
Brian, Vladimir Zotov, Stefano Panaro, Seth, Dragan Alexandru, Tenebrion, Jason, Alex Wong, Jamie Costello, Rick Van Velden, Leah Klearman, Bacongravy, Klaus Clemens, Ps0Fa, Abel, Eric Slimko, Adam, Empyre18, Brian Jackson, Istvan P, Johann Döpke, Leonid Sorokoumov, Thomas Davenport, Nicholas Luchetta, Kim Brand, Ted Marcy, Joshua White, John Issitt, Joe Ryan, Patrick Staight, Wees Kendall, Shane Guthrie, Andrew Baartz, Jim Kirker, Justin Smith, Karan Mehta, Alex, roGER, Elisabeth Stanfield, Ash, Marton Csikos, Randy Cleary, Arjan, Marton Szasz, Liubov Zvereva, Jeff York, Michael D. Hall, Long Phan, hunter dalton, Craig Mews, Kent Klatchuk, Stefan Penner, ZETTAwith3TEEES, Zac Woodrell, Roman~1, Chris Hawkins, Wesley Fite, Robert Nyborg, David McIlveen, Anthony, Arend Peter Castelein, Daniel Alberto Vázquez Rodríguez, Kamil Sicinski, Dodd Willingham, Leo Vassershteyn, How long can a profile name be... this long... Wow, this is longer than I would have expected. Good lord, the letters! Secunda!, Michael Kürbis, Hugh Harris, David W., Will, Kheng Lai Tan, Andrey Kalganov, David Taylor, Scott Greenwood, Jane Walerud, Simon Sturmer, Zachary Demko, Michael Wolff, Steffen Lindner, Siegfried Eggl, PM, Jack Annear, michael, Jonathan Krailler, Franklin, Trevor, Marcel Roquette, Daniel Hall, Connor Costello, John D Tyler, Petronio Coelho, Kevin MacIntyre, Travis Thompson, Matthew Eggleston, Andrew Vinnichenko, Zachary Kasow, AZbytes, Johannes, Reuben Field, Nigel Pauli, Jacob, AB3, Sridev, Matt McKee, Norrawed Setthiwong, Victor T., Pedro Brito, Michael Salt, John C, Rimvydas, George Dusu, John Downie, Shivan, Caleb Adjokatse, Donald Wedington, Demo sthenes, Brenton Milne, Hayden van Reyswoud.

Опубликовано:

29 июл 2023

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 2,1 тыс.

@c5ohay 9 месяцев назад

“New Zealanders who leave for Australia raise the IQ of both countries.” -Robert Muldoon

@MrZoomah 9 месяцев назад

That is brilliant. As an Australian, it took me a little while to realised it was insulting me, not new Zealanders. Proved the quote 😊

@natbirchall1580 9 месяцев назад

@@MrZoomah the love is hart warming the world would be perfect if there would only be Australia and New Zealand.

@IC3XR 9 месяцев назад

It would be funny if it wasn’t wrong Australia ranks higher on education

@cjmhall 9 месяцев назад

@@IC3XR You must be fun at parties.

@yt.personal.identification 9 месяцев назад

@@IC3XRSure, but a lot of that education is an international benefit. It isn't always Australian students.

@johnbee7729 9 месяцев назад

Here in Canada we have relied on a number of imported skilled workers. We bring in numerous doctors and lawyers and then turn them in to great fast food workers serving coffee, donuts and burgers.

@luisvilla799 9 месяцев назад

LoL

@thewiseass895 9 месяцев назад

Lol that's true i heard an asian engineer here in the UAE who worked on big projects, decided to move to Canada and received a way lesser wage than in the UAE even her experience got denied because Canada's companies don't trust of foreign experience or something.

@boosterh1113 9 месяцев назад

@@thewiseass895 It isn't that they don't trust foreign experience, it is that they don't trust foreign education. Outside of a few specific fields (notably medicine), Canada is a ridiculously over-educated nation. We have plenty of Canadian-educated people with Master's degrees working as waiters and cabdrivers, so if a company needs to hire an educated professional, they can almost always find the person they want, and be guaranteed that this worker's training is up to standard. If they hire a foreign-educated person, the company now has the burden of researching that person's school, to determine if the education they received is up to Canadian standards, because if it isn't, they can be held liable for any harm caused by their under-trained worker. Why take on that burden if they are just tripping over under-employed Canadians whose qualifications don't require either risk or research? So, unless your foreign degree is from a country that has educational equivalency agreements with Canada (e.g. US, UK, Germany, etc.) or is from a prestigious university that has individually arranged for its degrees to be recognized in Canada (e.g. Tsinghua or Peking University in China, the National University in Singapore, etc.), companies aren't going to bother with the hassle. Canadian companies don't really need or want foreign-educated engineers or designers (for values of "foreign-educated" explained above), what they want is mid and low skilled foreign workers who will work for cheaper than Canadians. Welders, truck drivers, HVAC technicians, roofers, security guards, that kind of thing. Show up with that sort of foreign experience, and you just need a short (4-12 weeks) conversion course to make sure you are up to snuff on the relevant Canadian laws and safety standards, and you are good to go (depending on the industry, the company might even foot the bill for it).

@gryph01 9 месяцев назад

@@thewiseass895A more accurate statement os that that the licensing requirements in Canada are different than the other country. To be licensed they would need to upgrade their skills. This happens a lot on the medical field

@masterchinese28 9 месяцев назад

Reading your post, I just imagine a line up for post-grads working at Tim Horton's.

@samuraijosh1595 9 месяцев назад

Skill issue innit

@ChineseKiwi 9 месяцев назад

Git gud

@michaelzumbaugh7290 9 месяцев назад

See you next Ch’tuesday!!!!!

@wisdomhighschool9975 9 месяцев назад

Not Every Country is Effected by Brain Drain especially Bigger ones like China and India and This is a Baseless Video, the So-Called Brain Drain Has Literal ZERO effect on the Indian Economy as they Barely Account for less than a .1% of Population and India is Producing Millions of High Qualified STEM Grads, Skilled and Semi-skilled People ,The Proof is the Fastly Industrialising and Rising Economy at World Beating Growth even in 2022,23....despite Global Slowdown, Another Examples are Millions of Germans & English Migrated to The US During 1800s, But they were Top 3 Economies of the Time & were Fastly Industrialising, But People Still Moved for Better Life Until The Life in their Own Got almost Equal to that of the US

@wisdomhighschool9975 9 месяцев назад

@Sailed_away 9 месяцев назад

T'is but a scratch.

@Dr.Sortospino 9 месяцев назад

I'm Italian, when I graduated in Italy for my Master in Materials Science find a job was a pain. They offered me 700 € a month to work 45 h per week in a "forever intership". And there are tons of cases like mine. You want to work in a restaurant? Prepare to work 7 days a week, for 4 $ per hour. Because "you are young, you need to learn". Thank you, I can learn the job in Germany for 5 times that with way better benefits. Before Brexit a lot of my friends went to UK. For these reasons. They never came back to work in Italy. I'm overskilled? Industry doesn't think so. So there is a huge disconnection between labor market and school

@RobertReg1 9 месяцев назад

With all respect, those situations occured because Italy gave itself to China. From what I understand, Italy has just informed allies they are breaking away from China. Permanent internship slavery.... Sounds like China.

@xiphoid2011 9 месяцев назад

there is a severe worker shortage in the US. Pay is also higher in the US than EU. You might want to explore that option.

@xploreourterra6096 9 месяцев назад

Yeah bro i agree with you degrees are becoming almost worthless and we get low paying jobs with high competition market

@Dr.Sortospino 9 месяцев назад

@@xiphoid2011 i'm in the US since 2014 =D got my PhD and I'm working in a semiconductor company. The visa is the issue. And USA is not helping on the visa sides for it. I'm on my 10th year in US, I spent a third of my life here, I married a texan woman, and still no Green Card... 😅

@alaeus2310 9 месяцев назад

@@xploreourterra6096 Degrees are worthless in Italy. Cross the alps in any direction and suddenly your projected salary as a young graduate triples. Combine it with corruption, paternalism and an outdated world view and you get why most of us leave.

@kracks9852 9 месяцев назад

As an Indian, it is worrisome when so many of my friends want to leave the country that nurtured them. But at the same time, what to do? This same country does not respect their skills and hardwork.

@ai10oz 9 месяцев назад

I.N.D.I.A or NDA, fate of India is same. Is it so?

@adityanair6406 8 месяцев назад

@@ai10oznot at all Modi is anyday better than Rahul Gandhi 😂

@shriharshbankapur9666 8 месяцев назад

Reservation system is a major factor for this.

@kracks9852 8 месяцев назад

@@shriharshbankapur9666 This is major cope. I agree that reservation is squeezing talent out of this country, but shouldn't it be government job to bring in more employment? Our manufacturing is so weak. We could be like China, but no! people keep blaming other citizens instead of holding government accountable...

@vijayvarade8077 8 месяцев назад

@@shriharshbankapur9666 Reservation would not be needed if it were not such a racist country , we discriminate our own people upper class vs. lower class . People are leaving country due to lack of opportunities and not due to reservation system .

@luigifranceschi2350 9 месяцев назад

I’m Italian, and I have attended Bocconi university, and I can confirm that most of the graduates look for job opportunities abroad once graduated. And many, including myself, leave. But what you failed to mention is that also after few years abroad, the most returns with much better skills and experience. Of my peers 90% went within 2 years from graduation abroad, because if you wanna have a good career you need in your CV experience in a foreign country. But within 10 years most came back and now have senior positions with high paid jobs.

@dekippiesip 9 месяцев назад

Yup, that and remittances to families are major boosters of countries where people live. They actually are major contributors to those countries.

@luigifranceschi2350 9 месяцев назад

@@dekippiesip remittance is not a factor, because usually who can afford to attend a master degree has behind a family that can fully support itself. But to go and work abroad, at least for few years, is a MUST for anyone that wants a career in Italy. If you do not do that before or later you’ll be overtaken by someone that went.

@dekippiesip 9 месяцев назад

@@luigifranceschi2350 not in Italy perhaps, but it is a very important source of income for many poorer countries. It is even socially expected that a family member working in the US or Europe sends home some money to support his/her family.

@studytime2570 9 месяцев назад

The remittance economy has its own downsides. How it is actually detrimental for some situations. Polymatter made a decent video about this issue..

@HimitsuHunter 9 месяцев назад

As a Barbadian, I agree. My country is too small to export anything particularly noteworthy beyond luxury goods and Highly educated humans. We might not get immediate economic benefits from our population going over seas... but the fact is that it connects us to the rest of the world by having lots of people who are from our country in Major projects across every part of the English speaking world and beyond, and then even when many don't come back to live, they don't forget the place they were born and raised. Frankly just the fact that our High skilled workers find their way around the world is very useful to our overall economic model.

@miguelpantaleonguerrero2858 9 месяцев назад

There is also the social aspect. Here in the Philippines, the standard of success is if you were able to work abroad. Even if you work locally as a high level employee, someone doing menial jobs abroad would be looked up to.

@Vydaindian 9 месяцев назад

Yep. Same in India.

@studytime2570 9 месяцев назад

Same in India..

@studytime2570 9 месяцев назад

In some regions People(from relatively affluent communities) are actually selling their agriculturally rich lands to immigrate to a developed countries(even illegally). Believe it or not sometimes its about status. If one of your family members live in the US, its takes you up the social hierarchy.

@jwillsher80 9 месяцев назад

In amendment to the OP statement, as someone married to a Filipina, is the observed phenomena is related not only how many more resources OFWs have, but also how many Balikbayan's the OFW send back. Also, as someone whom has spent some time in Saudi Arabia, I never observed Filipinos doing menial labor, though there are au pairs. The OP probably has a better informed opinion than I do though. I have also observed, that there is an a bit of favorable status that is bestowed upon Filipina that marry successful foreigners. My wife's maternal grandmother seemingly looks upon my wife more favorably than before. And before someone says something, my wife was considered "successful" in the Philippines, before we wed.

@oscarcyber3308 9 месяцев назад

as a Filipino-Chinese I find it odd, the standard of success in our tightknit community is how big and successful your business is and how good your connections are. Which explains why Filchis continue to dominate the economy in every sector good news is that younger generation Filipinos have been more entrepreneurial compared to the last generation.

@IQstrategy 9 месяцев назад

FYI: US taxes does allow foreign taxes to be deducted from citizen tax & tax free up to about 100k.

@americameinyourmouth9964 9 месяцев назад

$122,000 and $244,000 for married couples but you still have to pay payroll taxes or self employment tax unless there’s an agreement in place. Like the US-UK Social Security agreement allows you to avoid payroll taxes and only pay UK deductions. The US has these agreements with most of Europe and Canada, Japan, Korea, Australia.

@1rjona 9 месяцев назад

The hassle alone of dealing with the IRS while abroad makes working abroad for Americans prohibitive. Some of my bosses are American citizens

@jaysonkmendoza 9 месяцев назад

It's still a massive burden speaking from experience. The foreign tax credit is great if you have a simple case. However, many countries offer tax sheltered accounts and incentives and employers are increasingly offered profit sharing or investment related retirement compensation. That automatically means you need to know how to file taxes and navigate the complicated tax rule differences because the taxation status of some income is not the same in the USA as other places. This means you need to hire a VERY expensive accountant or tax company to help you. Those services are targeted at the wealthy and charge a lot of money. Someone who is living abroad working a lower or middle income job would find that burden enough to put them out of house and home. Since the USA does citizenship based taxation this will really screw over people who moved or were born abroad as children. They would have all those obligations without the means or control to do anything about it.

@kathyschreiber9947 9 месяцев назад

Yes I've experienced this. US citizens get credit for all the foreign taxes they pay so usually they don't owe anything to the US. They just need to file the return. If they foreign taxes are lower, they pay the difference.

@pdmkdz 9 месяцев назад

Just came back to the video to say the same lol

@8paolo96 9 месяцев назад

As an Italian I can't agree more. I have bachelor's and master's degree with maximum grades and I work hand in hand or even under people with just an high school diploma. At the same salary. The feeling of underemployment is very heavy, so heavy that next month I'll leave job and start looking abroad. And that's is shared basically between all my uni-mates

@ThePowerMoves 9 месяцев назад

Your degree means little if those above you have more experience, more skills, or just higher output

@sumeettanwar1608 9 месяцев назад

@@ThePowerMovestheir degree mean they should start from higher level if not what's is the point of degree they should have also started at the bottom when young than to go to colleges. Problem is most countries don't have enough high level jobs.

@8paolo96 9 месяцев назад

@@ThePowerMoves I agree and I'm conscious about that, it makes sense with the ones above me or more experienced, but that can't be meaningless compared to new employers as well, where there are abvious and noticeable differences in knowledge, don't you agree?

@ThePowerMoves 9 месяцев назад

@@sumeettanwar1608 that's what people with the degree wish. Meritocracy is based on output

@sumeettanwar1608 9 месяцев назад

@@ThePowerMoves true, that's why people with degree move to get the job for their skill level and not to start at the bottom.

@caimano55 9 месяцев назад

I am an Italian citizen that left (and i have no intention of coming back until retirement). Italy will continue to bleed talent as long as wages remain half of what they are in the rest of Europe, work culture totally lacks any whiff of meritocracy, and the state does its best to demolish private enterprises rather than support them. Love from 🇺🇸 .

@dlewis8405 9 месяцев назад

I remember during the Eurozone debt crisis that there was a lot of discussion about Italian tax evasion. One thing effective tax administration does is to redistribute money from older wealthier people to younger people who are just getting started.

@___alessandro.337 9 месяцев назад

I'm Brazilian🇧🇷and one day I also intend to go live abroad, specifically in the USA🇺🇲 Is it difficult to get a US visa???🤔

@sean9820 9 месяцев назад

And we are grateful to have you!! 🇺🇸🕊️

@BigBoss-sm9xj 9 месяцев назад

Thanks for bringing your uniqueness to our country!

@Unknown-jt1jo 9 месяцев назад

@@___alessandro.337 If you're a skilled worker, there are plenty of visas available. One option is to work for a US subsidiary in your own country (e.g., the Brazil branches of Cisco or Microsoft), and then use an L1 visa to emigrate to the US.

@okman9684 9 месяцев назад

How isn't this video sponsored by Skill share

@officialhideyo 9 месяцев назад

Underrated comment

@thewiseass895 9 месяцев назад

They don't wanna share thier skills haha. Ik I'm so funny

@liversuccess1420 9 месяцев назад

My brother-in-law is a Brazilian whose background is in public relations and marketing. He lives with my sister in LA and works at a talent agency, and has told me that for many Brazilians in his profession, the goal is to get to the US. There are opportunities in Brazil, but the best paying jobs are in LA, NYC, and other parts of the United States. He's also told me it's like that for quite a few other professions...the choice destinations may be other countries like Canada or Europe, but the talent drain is real.

@FlyingDwarfman 9 месяцев назад

Of course people working in the talent industry see LA as the goal. That's true within the US and around the world. Not claiming the talent drain isn't real for other industries, but talent/ media is a really bad example.

@DivineFrag 9 месяцев назад

@@FlyingDwarfman Finance is pretty much the same. At first, people will tend to their closest regional powerhouse which is NYC, London or Hong Kong. But after that, just for the compensation alone, most people would prefer to be in NYC at the start of their careers, and maybe eventually move to Boston if American or Zurich if European.

@liversuccess1420 9 месяцев назад

@@FlyingDwarfman That response just proves the point. It's like saying obviously people who work in data or software have the goal of working in Silicon Valley. The success of the industry in a location is part of what draws talent to that location, and away from their native countries.

@nutmaster7794 7 месяцев назад

He's better off Staying in his homeland

@danilodaher88 6 месяцев назад

On the other hand, if you are a doctor in Brazil, you live as a king as nowhere else in the world

@carsond67 9 месяцев назад

What gets overlooked is that Australia ended up with such a huge overseas education sector by accident. As a result of huge cuts to university funding in the late 90s the sector was forced to start increasing overseas student numbers who pay up front, as opposed to local students that only make deferred payments to the government after they start working.

@ayat5483 8 месяцев назад

I don't know the history that you described. But let me tell you, Your country(Australia) is very famous in our country (Bangladesh). It's almost like prestige if someone is studying in Australia. It is because your country has good education and research facilities. But Some of your universities are using this fame in a very bad way. They are increasing fees without any valid reasons. Also, These International students make housing crisis in your country 😅

@michaelcobbin 8 месяцев назад

I can remember that happening back in the 1990s. The other big concern was the brain drain Australia faced with highly educated professionals going overseas due to various expat schemes by other countries. 25 years later. The tide has turned for Australia’s benefit.

@Pushing_Pixels 6 месяцев назад

Unfortunately, outside of a few prestigious courses the standard of undergraduate education has suffered as a result. Previously, with a more limited pool of students, universities had to provide the best education they could in order to attract the best students. Once the doors were thrown open, and upfront fee-paying overseas students came to dominate the market, the incentive shifted to graduating as many students as possible, even if it meant making the courses easier and lowering assessment standards. Why? Because you don't get a refund if you fail. If a narrative formed that people were travelling to Australia, paying all that money and not getting a degree out of it at the end, it would look like a risky investment and less students would come. Our universities are now totally dependent on overseas students, so they will do whatever keeps them rolling in. Cheating is also rampant. There is an industry of local students and recent graduates getting paid to write essays for overseas students, some of whom really struggle with English. There is meant to be a minimum standard of English proficiency a student must show before they can start uni. There is a large private education system built around training non-English speakers up to that standard. Based on my experience, though, I would say that the requirements are very loosely enforced. I shared classes with several overseas students who, while probably perfectly capable in their first language, were woefully unprepared for academic writing in English. I can only assume they either got someone else to write their essays, or they tried to use translators. Academic teachers are caught in the middle. On the one hand they are trying to teach to a certain standard, but on the other they are under pressure from administrators to basically let underperforming overseas students slide through. The teachers are also fighting a losing battle trying to stop cheating by imposing sanctions on people who are caught, but then the administrators want them to give upfront payers a generous number of "warnings" before sanctions are actually imposed. The teaching academics genuinely do try to provide a quality education, and they do care about the students and will give them their time, despite also being pressed to produce enough research to maintain both their own careers and the uni's rankings. But the fact that most teaching academics are now either casuals or on short term contracts makes it very difficult for them to stand up to administrators.

@luizdevil6855 5 месяцев назад

@@ayat5483 they can increase fees indefinitely because a university degree is a mere token that people are willing to get into crippling debt to get.

@luizdevil6855 5 месяцев назад

@@michaelcobbin so the idea is import unskilled students, prep them up, and export them abroad. seems like a good plan.

@wise5674 9 месяцев назад

This is the first time I'm learning so much from the comment section of a video. Nice discussions, guys

@linuxdragon57 9 месяцев назад

BTW, I live in a US state with a huge agriculture industry. Corn subsidies do not give us food security because most of that corn is being turned into ethanol in an attempt to offset gasoline-related carbon emissions. Ethanol is energy negative (i.e. it's not actually offsetting anything), so the fact that that land that would otherwise be used for food is being used for something other than food is stupid.

@elyodi2136 9 месяцев назад

I'm pretty sure we do that so food prices actually stay reasonable so farmers can actually pay their bills. since if food is really cheap farmers cant make payments and lose their farm and would mean a food shortage across the states

@casparcoaster1936 9 месяцев назад

Maybe nuclear exchange in Ukraine will stop that stupidity....but, maybe rather eat radioactive bread, than bread soaked in Roundup... guess stupidity's just part of being a peep

@jonomoth2581 9 месяцев назад

⁠@@elyodi2136if that starts to happen then prices will decrease less or rise again

@msergio0293 9 месяцев назад

And it's gonna get worst thanks to bill gates

@catprog 9 месяцев назад

I would agree with a dot point. Sugar ethanol is diffrent then corn ethanol

@abhinavmankotia9867 9 месяцев назад

As an senior at the highest ranked public university in India ironically majoring in Econ, I find myself at this very crossroads. Im fortunate enough to be offered a higher package than most graduates yet it's nothing in comparison to what I can make in an English speaking country. I love my country but there's no way for me to grow here.

@rajneesh8960 9 месяцев назад

IIT or ISI? Btw I work as video editor and I can really tell that editor in India are in abundance but not very much skilled in delivering the projects, it's now becoming like engineering here. Can call themselves editor/engineer but really really lack in application of things I feel this is the problem the education system needs to look after rather than making them compete in race for IIT or higher package. For most of the skills the fundamentals are not clear in heads of students which produce mediocre results from them.

@rajneesh8960 9 месяцев назад

Btw any way I can connect with you

@Steadyaim101 8 месяцев назад

As a PhD from a poorer part of an English speaking country, I felt the same. I have an MBA in business and a PhD in Workplace psychology, but I was competing for low level manager jobs at a fast food restaurant. I love my home, but I had to give up on it and move to a large city on the other side of the continent to find work that was worth my time.

@hiteshadhikari 8 месяцев назад

Have u heard of factor called cost of living?

@rahilvig8185 7 месяцев назад

Please keep in mind the cost of living too, it’s a HUGE difference. Living in London for example, expect £1500 to go monthly on rent, and other £300 on transport £400 on food, and and £5-700 for miscellaneous and more and this is if you’re living in your own! So not necessarily the wisest decision to move abroad purely based on pay.

@gouthamkrishna8156 9 месяцев назад

I am from a place in India called Kerala, Kerala is better of when compared to other Indian states in terms of HDI and other social indicator. The prosperity we enjoy today is due to remittances from the gulf. The people who went to gulf used to send money back as remittances amd even today it forms the back bone of our local economy. We have a new wave of expacts to US Canada and Europe. Unlike Gulf NRIs the people who are going to Canada Europe and the USA, They are permanently getting settled there and they are sending little to no remittances.

@justkal5644 9 месяцев назад

why need to send money back to india???? earn it by yourself

@fizzy14 9 месяцев назад

You guys still flock to the west/the gulf for a reason - it may be better than other indian states but that is a low bar of comparison, the place is still terrible compared to the west/the gulf counteies and even china.

@hjrosas071 9 месяцев назад

Life is too expensive in the US for everyone except for the white liberals who think everything is great. There will be less and less remittances in the future.

@DOSFS 9 месяцев назад

Gulf-state deal for Indians is trouble almost any way you look at it... especially in a moral sense.

@gouthamkrishna8156 9 месяцев назад

@@justkal5644 honestly in Kerala there is no opportunity. Nobody is setting up an atmosphere to make money. That's why people are going out. The same goes for most of India. That's why people migrate.

@illusive-mike 9 месяцев назад

Part of the issue with citizenship taxation is that a sufficiently disgruntled migrant worker whose only touchpoint with their country of origin is the extra taxes it levies on them for no benefit has no reason to hold on to their citizenship. This sort of control from a less influential country than the USA can simply direct skilled migrants to look into path-to-citizenship schemes, cutting the home country out altogether. This can be unpopular in the host countries, especially democratic ones where the newly naturalized migrants would potentially become an unpredictable voting block, but it is a tool on the table that doesn't have a clear equivalent when it comes to the movement of goods.

@Noe-gj9mw 9 месяцев назад

Getting a new citizenship can take a few years ago, so at least during those couple of years, the skilled worker would pay taxes back to their home country and hopefully pay back the costs they got from the tax base

@illusive-mike 9 месяцев назад

@@Noe-gj9mw If the tax rate is completely bonkers, maybe. The typical expectation for a domestic skilled worker is that they'd contribute to the economy and the budget for decades. To try and pay back all of the tuition subsidies in the ~5 years it would take to ditch the chains is not a sustainable proposition. Moreover, since the scheme relies on the worker paying the same taxes as they do domestically, this means a brutal tax rate for professionals at home as well, which if anything means they have even more incentive to go to a country that isn't bleeding them dry.

@filipelimartins 9 месяцев назад

and what happens if they don't pay the taxes of their former countries? the actual country will arrest them? or they'll send the police to arrest you on the new country? I find it very difficult to enforce.

@illusive-mike 9 месяцев назад

@@filipelimartins It depends on what kind of ties the worker has to their home country. If they have assets there, those are in reach for confiscation. If they're sending remittances, then accepting those may make one an accesory to their "crimes". And yes, if the country is a hegemon like the USA, they can just lean on the host countries to make them play by their rules and enforce US laws. Which once again falls apart entirely when the worker has the option of just ditching the old passport weighing them down. It also naturally doesn't work if neither the worker nor the host country have ties and goodwill to the home country.

@Lusa_Iceheart 9 месяцев назад

This is a very good point. Americans living overseas have an incentive to keep their US citizenship, namely because a US passport is a great way to stay physically protected. If you work, travel or just spend a lot of time in other countries where crime is... more common, keeping your US citizen status ensures that criminals will think long and hard before they take you hostage for ransom. Whereas countries like Germany and Spain will pay the ransoms (thus incentivizes the system of taking foreign hostages), the US just sends a blackhawk with a team of special forces to land on the bad guys roof in the middle of the night, kills them all and takes you back to the US. Conflict reporters in war torn countries are often told "Say that you're American" even if it's a lie, cause then the hostage takers let you go and don't risk screwing with Americans. It works with terrorists/criminals as well as dishonest police and corrupt officials looking for bribes too. Even in countries where the national police is indistinguishable from a large gang, they still rarely (if ever) run the risk of provoking the ire of the US when the state department finds out about it. The intimidation factor of a US passport is amazing.

@chacmool2581 9 месяцев назад

I am a U.S. American who's lived two decades in Indonesia where the World Bank and the country's own Labor Ministry have declared that the country lacks the skills needed for greater value added industries and therefore for greater development and improvement of the economy. I have worldwide experience, speak the national language (plus three others), have two master's degrees from globally significant universities, but the government puts significant obstacles in the way of my putting my education, experience and skills to work in the country. I also have a bit of capital but the country's bureaucracy and corruption dissuades me from putting it to work by opening a business. A lot of the problems highlighted in this vid are actually self-inflicted, the sad result of being more interested in protecting their 'dumb' national labor than exposing it to foreign talent and competition, and in pandering to anachronistic, exaggerated, populist nationalisms. The protectionism that Indonesia does need is protectionism against its ineffective, corrupt, unimaginative and wong ndeso national elites.

@real_kokon 9 месяцев назад

I migrated to US more than 20 years ago from Indonesia. At that time, the issue was mostly the job opportunities. To work in the field that I wanted, it was not possible to find a decent job that could support my family. I don’t think the government intentionally made it hard for me to work. They just didn’t have the capacity to do so.

@chacmool2581 9 месяцев назад

@@real_kokon Bapak orang RI?

@sumeettanwar1608 9 месяцев назад

Same in india. Red tape to open a business in India is insane and at every level you have to give bribes to cut the red tape.

@ultimategamer876 9 месяцев назад

Salamat pagi! I’m an American who lives in Jakarta for 3 years, do you think the new change in capitol could help? I love Indonesians so much but the poverty and corruption really drags it down.

@chacmool2581 9 месяцев назад

@@ultimategamer876 No. A change at Istana Merdeka will mean little for the country will not get the regime it actually needs to make the jump from lower middle income to high middle income. Plus Indonesians talk the talk but don't walk the walk. Omong kosong.

@alvaroqueirozmas 9 месяцев назад

I wonder how working from home affects this. I live in Brazil but I work and get paid directly by/for a US company. At the same time I'm bringing money from US to Brazil, but on the other hand, I'm producing good/services for a US company. I wonder the effects of this on a global scale

@haridym 9 месяцев назад

I would say that's an 'everybody wins' kind of a situation, the US gets your goods/services plus taxes, Brazil gets the money you spend at the local economy and any sales/property tax, and you get higher pay than your peers.

@fabioc9142 9 месяцев назад

They pay you less compared to paying a normal US worker. Way better for them and could potentially kill the local industry with wages not feasible for local companies if more people like you follow suit.

@nigeltan7766 9 месяцев назад

i suspect its a win for your home country if skilled labour becomes a profitable export (what they invested in your education vs. what they get in return with taxes)

@alvaroqueirozmas 9 месяцев назад

I would bet that brazil's industry will be the one suffering as consequence, sure Brazil will get taxes and the workers a higher pay, but brazil industry will be affected with talent shortage and demand for higher salaries

@bushidorox 9 месяцев назад

It’s better for your home country. While yes, you’re providing valuable labor to a US firm rather than one from Brazil, you’re also directly injecting foreign capital into your own economy. Not to mention, you’re gaining valuable skills that can be transferred over in the event that you start working for a Brazilian company instead.

@macattack5863 9 месяцев назад

Not allowing people to leave doesn't suddenly give them a job that uses their skills.

@opedroefeio 9 месяцев назад

good luck controlling that, you can just pack your things and claim you're going on a holiday, unless you go north korea-style and shoot people trying to cross the borders on the way out.

@stupiddude6824 9 месяцев назад

no, but it creates market pressures that will create those jobs. If you have thousands of highly skilled engineers in your country who are working at Mcdonalds' because there are no engineering jobs, they will be motivated to work in engineering for low pay, this makes the country attractive to investors who want engineering done at low costs. Thus in time it "should" create those jobs... BTW I am in no way arguing that preventing people from leaving is a good policy :D Even for an evil regime, it's generally bad news if unhappy people can't leave... it means they build up and start getting ideas. The GDR fell that way. They allowed no one to leave for the West, and in the end, it meant that there were hundreds of thousands of really unhappy, highly skilled and educated people in the country, and those people created the pressure that brought the country down.

@effexon 9 месяцев назад

@@stupiddude6824 they said in US labor shortage.... dunno where all they go.

@FernandoPerez3h 9 месяцев назад

If a country wants to retain its own young people(more than 23/25 years old after college/university),so it should offer better quality, higher salaries, and quality employment. That's why countries like Australia, USA, United Kingdom, and Canada retain these workers, leading to population growth (for example, the USA increased its population to 350 million, Australia increased its population to 26.3 million, and Canada increased its population to 40 million) and New Zealand(nearly 6 million). I mean English speaking countries are good at keeping their workers.On the other hand, countries in Eastern Europe, southeast asia and Latin America suffer from depopulation due to the lack of opportunities, low salaries, and low quality of life in their nations.

@benitzers8858 9 месяцев назад

yes

@MartinNew14 9 месяцев назад

true

@___alessandro.337 9 месяцев назад

I'm Latin American and I'll have to agree with you Unfortunately...😔

@pergys6991 9 месяцев назад

It doesn't help that to get higher education, those same countries offer way better quality education compared to domestic ones or at the very least, have a much greater reputation compared to home grown universities. Your more likely to think a guy from Harvard is much better than the Peking University even though both arguably are the same in principle.

@alaeus2310 9 месяцев назад

You can take the UK out of this list, considering that their quality of life is tanking rapidly. Estimates are that Poland will overtake them in the next 10 years.

@CrayZeta 9 месяцев назад

Great interview, hope to see more stuff like this in the future!

@marcob1729 9 месяцев назад

The USA is really making it difficult right now. I know multiple people who got masters or PhDs here in highly skilled positions such as aerospace engineering, and some of them have given up on the exasperating visa situation. They’re all from Western aligned countries as well. It’s baffling

@sean9820 9 месяцев назад

I agree! If you study here, gain skills you should stay and contribute to the economy! Makes no sense to send them away. A rising tide lifts all boats.

@fatboyRAY24 9 месяцев назад

Yeah I don’t get it either. Seems a bit malign.

@Unknown-jt1jo 9 месяцев назад

@@fatboyRAY24 Why is it malign? The US is, by far, the most popular destination for skilled emigres. If the US allowed all skilled immigrants to come in, they would swamp out local labor and drive wages way down.

@marcob1729 9 месяцев назад

@@nightmark2120I work in the aerospace industry. Just because you’d think something should be one way, it doesn’t mean that it is

@baconfly11 9 месяцев назад

The national security laws in the USA will not allow foreigners with aerospace experience or degrees to work there. These companies are often working with the government which require lots of prerequisites that Americans have, being born natives.

@kr4ftt 9 месяцев назад

Yeap, I can attest to that, all my IT skilled friends are working home office to US companies, something like 30k a year is nothing to an exxon but it's huge for brazilian standards, because of dollar to real conversion. I myself am finishing my studies just to apply to those jobs

@ChineseKiwi 9 месяцев назад

11:39 - As a dirty Kiwi immigrant to Australia, that animation jumping to Australia - WEEEEEEEEEEE 🤣 And my parents were skilled immigrants to New Zealand! But yes, others reading this, there are around 550,000 New Zealand citizens living in Australia, while only 60,000 Australians live in New Zealand despite Australia having over 5 times the population. Why? A key factor is wages, being you are often paid 40% or more for the same exact job while living expenses are similar overall, with Australia allowing New Zealand citizens to live and work indefinitely within Australia, similar to the Schengen Area for a lot of EU nationals. Due to these good wages, Australia has among the least brain drain out of any country, being only 0.8% of Australians live outside Australia. For me it was this and life opportunities for everything due to economies of scale, due to a bigger population, like more entertainment options and job options.

@chacmool2581 9 месяцев назад

...and despite it all, Kiwis don't let am opportunity go by to badmouth Aussies and turn up their noses at them. 🙄 Kinda like Canucks with Americans.

@good8072 9 месяцев назад

@@chacmool2581 HAHAHAH I was literally thinking his example perfectly describes Canada and US

@kathyschreiber9947 9 месяцев назад

it's gotta be rough when every able bodied man, woman and child would cut off their right arm to leave.

@allo-other 9 месяцев назад

"work infinitely"? I think you meant "work indefinitely". Spell checkers can't always be trusted.

@cjmhall 9 месяцев назад

@@kathyschreiber9947 Nobody is that desperate to leave, but there are just limited opportunities for younger people in such a small country and economy. Many move back when they want to start a family.

@oscarg6924 9 месяцев назад

This goes beyond the scope of the video, but many of the countries mentioned as examples of losing skilled workers (Italy, Portugal, Spain) have a very particular situation because their skilled workers emigrate mostly to other European Union countries. So they remain within the same economic block. So whatever goods and services they create can typically be freely re-distributed around the whole Union, they affect in the same way the monetary policy of the Central European Bank, etc. Even the taxes paid are to a some extent redistributed to all the members of the European Unions. Interestingly, at a political and psychological level, this redistribution has way more opposition than if it was within the same country. Many of the wealthier countries in the Union oppose subsidizing the poorer, thinking that Italy, Spain, Portugal, Greece, etc. are free riders. It is seldomly mentioned that Italian, Spanish, Portuguese and Greek nationals do contribute to the industries in Germany, the Netherlands, etc., which then turn around and sell their services and products around the EU, and make a profit out of it. So for example Italy does not necessarily suffer as much the departure of skilled workers on an economic level, but as a loss of prestige and power.

@sarantis1995 8 месяцев назад

Τhanks for pointing this out. As a Greek I can clearly see this. Despite the current integration, still, EU is unable to balance this out.

@Doge811 6 месяцев назад

@@rowlandpaes9213Italy is the second industrial power in Europe before uk and France and it mainly export machinery not pizza 🙄🙄🙄 The bigot think that we survive selling pizza and with American tourists....... 😑😑😑 We would by dying of hunger. 🤦🏻‍♂️ The next time you see a Ferrari or a Lamborghini ask yourself some questions.

@edoardorossi5031 6 месяцев назад

Italy is in a bit different position, it is a net contributor to the UE budget, not a net receiver

@antdele99 5 месяцев назад

Your comment only demostrate your ignorance, Italy is a NET CONTRIBUTOR to the EU budget.

@flydrop8822 6 месяцев назад

The idea that a country could continue taxing you after you leave it or outright banning how many people leave the country seems like a dystopian nightmare. I hope I can get out of Bruhzil before things like this become normalized.

@rayhans7887 9 месяцев назад

I am from Bangladesh. I work as a medical scribe in a American hospital. I know I am maybe working for 1/3 pay Compared to a American scrib. But it does not matter for me as common Bangladeshi companies pays peanuts. I wonder what affect does this kind of arrangement have in the global economy.

@isaacwojo3273 9 месяцев назад

It hurts the United States and Bangladesh. It hurts Bangladesh because they lost a skilled worker and the usa because it drives down wages.

@recoil53 9 месяцев назад

@@isaacwojo3273 Yes, but a billionaire pocketed the savings. Why won't you factor in his need for new yachts into this?

@souravjaiswal-jr4bj 9 месяцев назад

All the recent developments in AI (LLMs, GPT, AI art) came from a single paper in 2017, whose lead author was an Indian immigrant to USA. Paper name 'Attention is all you need'. That talent would be wasted in capital deficit India.

@mathyeuxsommet3119 9 месяцев назад

Indian just have to be better.

@wisdomhighschool9975 9 месяцев назад

India's Is Today a "Global Economic Bright Spot" as Reported by Chief Economists at The World Bank,IMF,S&P Global, JP Morgan, Goldman Sachs etc as It is still the World's Fastest Growing Major Economy

@wisdomhighschool9975 9 месяцев назад

@souravjaiswal-jr4bj 9 месяцев назад

@wisdomhighschool9975 Most of the capital flows are directed towards infrastructure, manufacturing or improving agriculture, not high tech R&D. If you want to start an AI company in US or EU you can secure $1b with ease, try to get just $10m in India for in house AI product development. The nearest it can come is service outsourcing for comparatively low tech development.

@wisdomhighschool9975 9 месяцев назад

@@souravjaiswal-jr4bjIndian Tech Hub Bangalore Alone Has More Unicorns at (40 Unicorn)Start-ups Than the Entire EU Combined Barely 20,(Source:Bloomberg) The Number of STARTUPS in India EXPLODED from just 400 in 2014 to a Massive 90,000+ in Early 2023, With Unicorns Booming from just 5 in 2014 to 115+ in 2023, And This is a Result of Massive Digitalization and Booming INNOVATION in India thanks to Govt Policies and HUGE Venture Capital worth $ 330 Billion Dollars have Flown into These Startups and Unicorns From Japan,The US, Singapore ,The EU and Even China etc And New Startups are a Result of New Technologies Being Developed in India

@96marcantoine 9 месяцев назад

Being a tax accountant in the US working with French expats for a while, I can confirm that the US does have the administrative power to enforce the double taxation from the country of residence and the country of citizenship, but something that wasn't really touched on is that there have been a significant amount of Tax Treaties between a good amount of countries around the world and the US to avoid this penalty. US citizens do have to file their US taxes as well as their country of residence's, but essentially if the taxes paid in the latter surpass the US's, there won't be any additional taxes imposed by the US. Each treaty is different, but from the handful that I've worked with (France, Switzerland, Belgium, Spain, Italy, Germany, Austria, Thailand), I'd say that rule applied in all cases. Nowadays, this talk of double taxation for US citizens living abroad is really more for those living in tax havens that don't impose high taxes and therefore would have to pay the remainder to the US by the US's tax standards. Meaning that this doesn't apply for a majority of European countries.

@BigBoss-sm9xj 9 месяцев назад

so the US taxation is more fair then it seems

@nekopop8159 9 месяцев назад

@@BigBoss-sm9xjYeah, poor families/individuals making money on the ‘poor’ scale gets to not pay taxes at all. But it’s natural to complain about having to pay taxes for those making lots of income.

@kukuc96 Месяц назад

And until countries start cancelling double taxation treaties, I don't think citizen taxation schemes will make a real monetary difference. It is however a huge bureaucratic hassle, as indicated by your job existing as it does.

@belfigue 9 месяцев назад

Lol! I was born and grew up in Spain. During my undergraduate, every year, I just had to work during the summer to pay for my education at a Spanish public university (not that I needed to anyways). However, I’ve been living and working in the US for the past 7 years (first arrived here to study a masters degree). I love Spain but its poor economic performance is hardwired and difficult to change. A different government would help, but probably not enough to change the negative trends that are in motion (in the people’s minds, in climate, in world politics, etc).

@BigBoss-sm9xj 9 месяцев назад

Glad to have you here !

@cptadb93 9 месяцев назад

I think Madrid actually has a very strong economy, which is a bit of an outlier.

@itzbebop 9 месяцев назад

EE is Australias greatest export

@abhitiwari5346 9 месяцев назад

'EE' stands for? (Educational export?)

@deepaksanaka 9 месяцев назад

@@abhitiwari5346economics explained

@Seethus 9 месяцев назад

@@abhitiwari5346the channel you are watching right now

@ingframin 9 месяцев назад

As an Italian who was basically forced to migrate to get out of poverty, I can confidently say that Italy is on its way to be a third world country.

@leonelgaldinomonteiro4783 9 месяцев назад

Sad. Cheers from Brazil

@Knnnkncht 9 месяцев назад

Where did you migrate to?

@Tobi-ln9xr 9 месяцев назад

Based on what? Because your statement is pretty much bs.

@Phantasma999 7 месяцев назад

Maybe Italy will get better after italians leave

@aemi_sa 9 месяцев назад

loving the subtle music! and great video, as always.

@tuckerchisholm1005 8 месяцев назад

Extremely astute and succint breakdown on so many levels, well done

@robertoprimordial2633 6 месяцев назад

A maior parte da população sofreu lavagem cerebral por parte do Estado. O governo é que controla tudo pra manter seus privilégios e de seus amigos poderosos corporativistas. Não fique com essa ideia de que os empresários são todos malvados. O pior é a falta de liberdade, não o preço que cada um coloca no seu trabalho e produto. Imposto é roubo

@goncaloaraujo6644 9 месяцев назад

You guys don’t understand how much of a problem this is in Portugal. 80% of us, graduates with engineering degrees are seriously considering leaving the country. And this is a conservative number. This country is doomed. We had mass emigration in the past but most of them weren’t skilled labor. Now if you have a degree you will have to emigrate. I’m a computer and software engineer, we are the highest payed labor in Portugal. Under 3 years of experience equals to 1100 €/month and a 1 bedroom apartment is 1100€ for an apartment without insulation, no elevators, in shitty locations. Average age live alone is 35 y.o . No future.

@MoDa87 9 месяцев назад

The question is, why are there no companies that offer jobs for you? What is the government doing wrong?

@AmirSatt 9 месяцев назад

to be honest in globalized economy it is normal thing. There is higher demand for engineers in developed countries, so obviously high skilled labour will move there

@Robertking1996 9 месяцев назад

Insane, software engineer in the US makes $6000 a month on the low end

@opedroefeio 9 месяцев назад

Came looking for the fellow portuguese's comment, I'm not surprised it was the third top comment.

@casualsuede 9 месяцев назад

PROBABLY doesn't help that richer people are coming to Portugal, driving up real estate prices.

@francescozani9488 9 месяцев назад

Thanks for making this.I've shared it on my linkedin page. There's a lot of need to raise awareness in my Country about this topic.

@Alcatrazz231 9 месяцев назад

Oooh I was waiting for a video on the Italian economy! I'm very excited to hear what EE has to say about my country's huge problems and trajectory

@rundown132 9 месяцев назад

On a high level,, what's wrong with Italy?

@Alcatrazz231 9 месяцев назад

@@rundown132 I guess, to just give you a taste of the scale of the problems that there are, I could tell you that skilled workers such as STEM and IT graduates make as much ( if not less sometimes) than unskilled workers. A nurse makes less than a plumber, an engineer make less than an electrician.

@invven2750 9 месяцев назад

@@rundown132you could say a thousand things, but they're just derivations, circumstances, symptomatic expressions of only 3 problems: The way the state set ups institutions protect too much suboptimal businesses, creating a legion of zombies. The way the state set ups institutions makes starting a business too expensive. The way state set ups institutions makes hiring someone too expensive. Everything different an Italian says can be traced back to a specific formulation of the 3

@nicknickbon22 9 месяцев назад

There’s actually an old video, but it’s not good in my opinion, it wastes a lot time taking about the fashion industry, so it basically becomes an “economics of fashion industry”kinda video.

@rajatgupta9713 9 месяцев назад

Higher the corruption in a country, more people will leave it given the opportunity. Its as simple as that.

@varun2250 9 месяцев назад

India has such brain drain because of Socialist economy that plagued for the past 55+ years where merit and skills means zilch in Public Sector Units which were the dominant favoured institutions for so long. As long as meritocracy is not guaranteed with rewards and career opportunities and is not ingrained in the culture of Society, there's no hope and scope of the "Bright/hardworking" fellas to stay in such a rigged system. Thankfully things started changing from 2000's and it's a continuous correction course now. At least Air India got to its founding owners from whom it was illegally Nationalized by a Commie-Socialiat nut-pot of those unfortunate times.

@rajatgupta9713 9 месяцев назад

@@varun2250 Give one report that proves India is suffering from brain drain. This over intellectualy, historically soaked arguments are of no use. Live in the present and talk facts that are relevant to today.

@Mcsepps_Lamtbalps 9 месяцев назад

@@varun2250India now have a Right wing conservative Party things still not improving

@semiyolo98 9 месяцев назад

@@Mcsepps_Lamtbalps it's right wing in only some social aspects. In terms of economics, it's just as socialist as the last crooks.

@aleenaprasannan2146 9 месяцев назад

@@varun2250That is a very distant past of India and there is not even an iota of any of the better aspect of socialism remaining in India. Infact pathetic work culture, horrendous hours, work conditions, abysmal pay and most importantly huge education loans that would take entire lifetime to pay back with Indian salaries are one big reason why a lot of skilled employees leave the country as soon as they can. Those aren't because of socialist communist policies that existed 2 decades ago. Those are reasons that exists today, look up the sky high cost of BTech (including tuition, rent and mess fees) even in our central government funded IITs and look at what the starting salaries for Indian Btech graduates are and please don't think everyone in IITs gets packages worth crores. Now that doesn't even scratch the surface, things get even more murky when you see the costs in other colleges, and juxtapose it to the retention rates of starting employees. The retention rates will tell you exactly how employees get treated as disposables, intentionally lowering their value, so they can take in fresh new cheaper blood every year. Our problem is not any economic system. Our problem is that we churn out too much of a resource that it self degraded its own value- its the same reason why farmers destroy produce to maintain price. We churn out too many tech graduates, because we let higher education become a senseless lucrative commodity factory for mass production and now that the product of it aka high skilled employees lost their value in this country, so they go wherever they can get their own worth. That's it

@mohamadshafia866 9 месяцев назад

Thank you all for your amazing videos, which I quit enjoy. However, I find bizarre that such quality videos are not supported with resources. I really would like to see your resources to first check, and second to read more about certain topics. Substantiating your numbers with resources in my opinion will take these videos to the next level of professionalism. Thanks again for the valuable videos!

@GregOughton 9 месяцев назад

A policy our province used to have was a tax incentive for workers staying in province after graduation. You record all your tuition cost while in school and once you start working you could get 60% back in straight up income tax rebates. They also heavily subsidized tuition for local residents. My engineering program only cost about $5k / year and I saved a total of $10k in taxes (this rebate was cancelled by the conservative government shortly after I graduated)

@SC-dr4wk 8 месяцев назад

That image in the ending was something. I guess targeting India does give one a sense of achievement 😅 Knowledgeable video overall, thanks.

@PotatoWiz 6 месяцев назад

Truth hurts bro! We are a rich country of a lot of very very poor people.

@scottpearsons4796 9 месяцев назад

That was an awsome presentation with many facts to consider when thinking world demographics and skilled visas being a commodity

@tropicalchimps9689 8 месяцев назад

India is currently facing huge outflow of skilled workers but I'm not sure how much it would affect the Indian economy due to the overall huge population

@davout5775 8 месяцев назад

India will grow regardless. Currently they are at such a low point that growth is like making noobie gains in the gym. The problem starts after that. If the outflow continue the growth would start to slow down significantly. If it stops it would continue to grow for a while.

@sinsunjai 7 месяцев назад

@@davout5775I beg to differ. With improving quality of education India actually has surplus of such workers.

@davout5775 7 месяцев назад

@@sinsunjai Surplus of what workers

@sinsunjai 7 месяцев назад

@@davout5775 surplus of workers proficient in AI, Machine Learning, Data Science etc.

@nikhilhembrom8952 7 месяцев назад

@@sinsunjaisurplus of workers don't do anything if we don't provide them jobs

@TheFirstTriplefife 9 месяцев назад

I'm curious, does Economics Explained have a website or a link to something similar that has the leaderboard that he shows in his videos? I'd love to just look up and down the thing.

@brexistentialism7628 9 месяцев назад

Great video which lines out how it's not easy to develop and train everything domestically.

@sheezy2526 9 месяцев назад

If u are from a developing country and moved to an "advanced" economy, most will not tolerate paying taxes in 2 countries. Many will give up the citizenship of their birth country if that is the case and it will be a net loss for the developing country.

@mycookingadventure 5 месяцев назад

thank you for this point.

@FirstLast-vr7es 9 месяцев назад

It's definitely cheaper to manufacture goods in countries that don't have pesky environmental and worker rights regulations. We enact those policies thinking we're so great for doing so, and then send all the jobs to countries that don't have such things. I guess what we really want is to not "see" people and the environment being torn down. If we don't see it, it isn't really happening.

@mathyeuxsommet3119 9 месяцев назад

Well It's the only way for poorer countries to have industries and growth wealth so we definitely shouldn't restrict the relocation of industries there.

@vladutzuli 9 месяцев назад

It's not that we don't "see" it, it's that it literally stops happening in the places where such policies are enacted. London is no longer blackened with soot from factories, for example. And such policies can only be enacted once the level of economic development is high enough to be able to afford them. Why would you keep polluting the rivers and pumping smog into the air and all that, when you no longer really have to? Other places take these undesirable jobs in the short term and ruin their environment and health to do them, but in the long term with advancements and automation those poorer places will stop doing that too. It's a gradual process.

@unintentionallyRandom 9 месяцев назад

Most if not all worker rights regulations alienate people from the workforce, these people are not benefiting from any of it.

@FirstLast-vr7es 9 месяцев назад

@@vladutzuli I'm not implying that we should eliminate such regulations. Just that we should (at least somewhat) protect the domestic workforce from industries that would happily relocate elsewhere and then export their goods back to their original country. Moving the polluters/wage slavers elsewhere doesn't solve anything. It just makes it someone else's problem. It's no secret that the people that really benefit from outsourcing are the executives and shareholders. Their profits have been WAAAYYYY up since the start of it. Year-on-year gains.

@AnkitSharma-ow2rx 9 месяцев назад

@@FirstLast-vr7es but "someone else" is happy to have that "problem", Asian development is largely based on West shifting manufacturing to Asia. It's win-win for all of us...

@BruceWayne-qe7bs 9 месяцев назад

Their is joke in India. "Padega India tho badega America"😂

@Shreya...1 9 месяцев назад

😂😂😂😂

@RobertReg1 9 месяцев назад

What does this mean?

@ReekyCheeks 9 месяцев назад

🇺🇸 ❤ 🇮🇳

@AnkitSharma-ow2rx 9 месяцев назад

Rough Translation:-"Educate India to develop America"

@ReekyCheeks 9 месяцев назад

If India 🇮🇳 studies, then America 🇺🇸 will grow

@Lando-kx6so 9 месяцев назад

Around 80% of my country's (Jamaica) highly skilled/educated workforce live in the UK, USA, & Canada

@krislegends 9 месяцев назад

Jamaica has the second highest rate of brain drain, with only Samoa being higher. Such an awful country filled with awful people.

@user-tm3em6uw4d 9 месяцев назад

They should stay

@masterchinese28 9 месяцев назад

We appreciate their contributions of talent, taxes and money spent locally.

@cyancat8633 9 месяцев назад

@@ArchieDDDDc'mon man you didn't have to do me like(and yes am Jamaican) 😢,😭

@runescapestats534 9 месяцев назад

I definitely see how Italy is losing its skilled workers. My wife (daughter of Italian immigrants) works as a nurse here in the US and makes nearly double what her cousin (Italian nurse) earns

@antdele99 5 месяцев назад

Only double? At PPA the ones who are working in Italy earns much more

@FranzBieberkopf 3 месяца назад

Nurses in the USA have to pay massive insurance premiums. Taking that into account, the increase in take-home pay isn't so startlingly high

@jmagicd9831 9 месяцев назад

I’m surprised you didn’t mention the biggest loser in the skills wars: the actual skilled workers. Citizenship based taxation will make it harder for workers to get ahead. Some rich Americans even renounce their citizenship as a tax strategy

@tradeprosper5002 6 месяцев назад

Taxing expats is theft. US also taxes their offspring, even if they have never been to USA.

@robertoprimordial2633 6 месяцев назад

@Bigdog5400 9 месяцев назад

When it comes to citizenship based taxation, I believe Eritrea does it as well. Additionally, US citizens don’t have to pay taxes on the first ~$119,500 if my memory is correct, you just have to file

@tacobell1365 9 месяцев назад

It depends on how much you spend on necessities. If everything you spend is on living then you pay a 0% or near 0% tax, so for a family probably 0%. If you are single making that much probably some amount.

@timothydevries383 9 месяцев назад

There is no US double income tax with friendly countries. You just need to file a mountain of paperwork. It's called foreign tax credits.

@rafaelcosta3238 9 месяцев назад

I doubt most banks outside of Eritrea care about Eritrean taxes, or if their Eritrean clients pay taxes. But when opening bank accounts, or brokerage accounts in the UK I have read many times that if the person was a US citizen they were not allowed to open it. Possibly the banks do not want the hassle of dealing with the IRS

@stevenluo9516 9 месяцев назад

@@rafaelcosta3238 One day, when Eritrea can manage to make highly-paid foreign mayors and other city officials go complete bankless because Eritrea does not like that its country passed a law concerning the city that the foreign mayor and other city officials is then trying to enforce. You know that the United States is a weird country with weird levels of foreign reach (or overreach if you ask some people in some cases).

@Merhawie 9 месяцев назад

@@rafaelcosta3238Eritreans abroad do pay taxes. It amounts to 2% of their net income.

@Articulate99 8 месяцев назад

Always interesting, thank you.

@csvvv 6 месяцев назад

I've lived all this in my life. I have studied hard to get to the best universities, but Brasil isn't a place for meritocracy and security. I've moved around a few times, landing in Italy now, but working elsewhere. Surprisingly to me, recently I have discovered that many friends of mine are in a similar situation. If home countries don't give it's citizens good conditions of life, they won't stay. Nobody will stay for the love of their great leader, they need to be able to have a good house, pay bills and live the life.

@xxxBradTxxx 9 месяцев назад

5:25, Taiwan is sending workers to Arizona to help build the chip plant in North Phoenix.

@AlexisXavier 9 месяцев назад

Very insightful

@homewall744 9 месяцев назад

Governments "generate more revenue" is a laughable euphemism for governments forcefully extorting more of your labor and wealth.

@HH-le1vi 9 месяцев назад

If you pay taxes to the government that's the government generating revenue

@TheMessiersAndromeda 9 месяцев назад

Oh god another mindless libertarian ape that doesn't understand how civilised society works

@LackofFaithify 9 месяцев назад

TSMC is laughing about you all the way to the bank.

@jonathanberner5501 8 месяцев назад

I’d love a video explaining the IMF and World Bank- where they came from, where they get their money, how they impact global economics, and how they do so with examples of what they’ve done and the results. Not sure how or why, but it wasn’t until just now that I realized I have no idea what these institutions really are or how they operate.

@dannyarcher6370 7 месяцев назад

Read up on Bretton Woods. Also, buckle up for that rabbit hole.

@user-mt5xq2mi9p 9 месяцев назад

I am a Senior level Electrical Engineer in the NY (USA) metro area. As such I do job interviews for potential hires. In the last few years at least 50% of the applicants have been foreign born, mostly from Asia and India. Some were graduates from US universities and some from foreign institutions. Also in the town I live in we have a significant and growing immigrant population from India. These people are buying houses, having children and settling down. I seriously doubt they are ever going back to India.

@BigBoss-sm9xj 9 месяцев назад

Yes, once a life is truly started and secured. Then I believe, there's very little reason to destroy all of that to go back. That has be the case with my parents. Hopefully I can get a job as an ME once I graduate

@rafaelcosta3238 9 месяцев назад

Immigrants from third world countries do not return to their countries. They would be silly if they did.

@Mcsepps_Lamtbalps 9 месяцев назад

India is also a Asian country

@luisa.acevedo3326 9 месяцев назад

@@Mcsepps_LamtbalpsIndia is seen as a subcontinent in the US (it was like that on my geography class at least, it on its own continental plate anyway. ), pretty much it's own thing.

@ianspurrell4436 9 месяцев назад

I would love to hear how/why/what caused a 'shortage' of shipping containers last year. I ride the train into Toronto for an hour every day, I go right past a major freight depot and there as thousands of empty containers sitting around. There are many other smaller yards along the route as well, all with a small stack of containers...

@noraleestone2859 9 месяцев назад

I'm enjoying, and getting much more out of, your videos now, because I decided to slow the speed to 75% of normal. In addition to being easier to follow, it makes you sound more thoughtful and considerate. 😂😂

@sailorssea 9 месяцев назад

Something i wish you would explain is targeted education subsidies. I would of love to have seen this in the video of Taiwan. My understanding of Taiwan chip dominance was helped by it targeted skilled workers. Not sure if italy has an education system but if not it could help.

@andrewzebic6201 9 месяцев назад

I'm an expat in Prague, and it's interesting seeing a lot of Italians and Spaniards coming here. They say there's better work and more work here respectively, but the Italians in particular are happy to move out. That's from my limited experience

@DivineFrag 9 месяцев назад

I'm shocked people are moving from a T1 to a T2 country. I suspect it has something to do with MNEs establishing offices in T2 countries with hopes of getting cheaper labor to do back-office roles.

@andrewzebic6201 9 месяцев назад

@@DivineFrag not really a T2 country here anymore. In terms of PPP Czechs are earning the same as the Japanese

@gpsoftsk1 9 месяцев назад

Interesting, I would expect that in Italy you can make more than in Prague. But probably that's just in case you find a job. I guess it's still better to make 1000-1500 euros in Prague than make nothing in Italy. It's quite funny because this is happening in Bratislava as well. Some people took jobs with net pay of 1000 euros (plus food stamps), spending 400 euros for a studio and they were happy. It's madness that they are coming from "West" to "East", 10-20 years ago the opposite was true. Interesting times.

@eulyer3722 9 месяцев назад

"immigrant"

@cameronmuller1982 9 месяцев назад

Great video, so insightful

@DrAlfredNUmar 9 месяцев назад

Great Video as Usual 🎉🎉🎉Please make a video on the Rise and Dominance of the ANGLO-SPHERE !!!

@Thinkingnamesishard 9 месяцев назад

'Governments wouldn't allow skilled worker visas if roles could be filled by citizens'. Except they do.

@profwaynewsmith 9 месяцев назад

It keeps salaries down.

@AKumar-co7oe 9 месяцев назад

they prefer to keep the skilled people around

@negochristian1 9 месяцев назад

Good. Compete! Only losers run from competition (and in this case, hide under the skirts of the beaurocrats in government lol )

@antonburdin9756 9 месяцев назад

@@profwaynewsmith, and cost of living up, at the same time.

@Unknown-jt1jo 9 месяцев назад

The whole point of the video is that countries permit skilled immigration because it *benefits* them. It may hurt some specific people in that nation, but generally it's a net benefit to the economy. Governments understand this, which is why they permit this.

@akinigiri 9 месяцев назад

I guess one solution is the Japanese solution. No one is taught to speak English in school, so no one speaks it, so no one can go anywhere 😂 It makes sense now. I was wondering why, from what I heard from my neighbours, Japanese schools rarely have conversational tests and rely only on written tests for English. They want to stop brain drain hahaha! There are apparently the lowest number of Japanese students studying abroad now compared to 50 years ago.

@offred6013 9 месяцев назад

Japan as a country is dying. Japanese r extremely closed and inward looking.

@jaysterling26 8 месяцев назад

That policy has been in place in the U.K. as well ( what us with archipelago nations with island mentalies?). 3:17 - see U.K. again: people ( misguided?) voted in 2016 to reduce immigration ( see above reasons they didn't emigrate) & now number higher than ever(?!) ..some might say there's something going on on ( apart from Frida)..(?).. P.S. :Now elite universities don't want native students as foreign ones pay more - how UK students going to study ? Can't speak 'foreign ', cnn't pay upfront for overseas uni- if they can easily go overseas after Brexit?

@TheMormonPower 8 месяцев назад

I live just down the road from Yale University...All you see is Asians walking around, they come to study high tech sciences, heavily subsidized by American taxpayer grants...Then go back to Asia with these tech skills and use them in their countries to build high tech companies that eventually wind up stealing American Tech and Jobs 😮

@PotatoWiz 6 месяцев назад

Japan is a first world country. So they're not exactly dying of hunger

@legolas66106 6 месяцев назад

Bullshit, if those Japanese students really had the mindset and desire to work abroad this would not stop them. Following a simple English course isn't a hard thing to accomplish in this digital age. There are probably other reasons, like them just liking their own country, but I highly doubt being offered a language like English in primary education is one of them.

@MrBizaaro 9 месяцев назад

Thanks for showing the map of India and Brazil, we didn't know how it looked.

@subodhgautam649 8 месяцев назад

Overeducated for the level of economy in a particular country.....wonderfully captured the beautiful fact which was going inside my mind.

@loganteacher5269 9 месяцев назад

Perception bias is also a very large issue. Many people perceive working in another country is better than it often is and overall topline pay being the number one cited reason - this is very myopic considering taxes, social services, cost of living, etc. If you also took the artificial dominance of the dollar and euro into consideration, you realize that this greatly affects brain drain dilemma.

@thedamnedatheist 9 месяцев назад

You didn't mention remittances, which is an important factor in skilled migration from developing countries.

@k54dhKJFGiht 9 месяцев назад

Great video! Would have liked to have seen this about 5 years ago!

@jonathaneffemey944 8 месяцев назад

Thanks for posting.

@keithwagg4112 9 месяцев назад

Funny, Australia offers a lot of skilled visas for things like medicine but makes it very hard for students born in Australia to study medicine. There is a skill shortage of tradespeople here too, but no skilled visas for them. So plumbers and electrician make more than most people with PhDs.

@davidbrayshaw3529 9 месяцев назад

Don't start me! The fact that education has become a tradeable commodity is a travesty to the born citizens of this country. It is a travesty against the opportunity that education gives citizens and it's a travesty against the competitive edge that we might gain by having a higher skilled work force. And then there is the great con. The con that Australia, all of a sudden, needs all these "skilled" people. I don't know how old you are, but there was no shortage of skilled people in Australia, 35 years ago. In fact, there was an over supply of skilled workers. Well, something changed, didn't it. That's right, we increased the population by about 70% without factoring in any of the requirements to sustain that population. Great for the GDP! It's kept a number of governments from hosting a recession! Not so good in reality, though, hence falling productivity and per capita GDP. And now we find ourselves in an endless spiral of increasing "skilled" workers in order to feed the needs of the "skilled" workers that have emigrated to Australia in the last three decades. Skilled fruit pickers, skilled truck drivers, skilled forklift drivers, skilled storeman... It'll be nice when we get a few of those other skilled workers to fill other gaps. Doctors, mechanics, carpenters, plumbers.... You started me!

@SurmaSampo 9 месяцев назад

"makes it very hard for students born in Australia to study medicine" Bold claim, got anything to back it up?

@keithwagg4112 9 месяцев назад

@@SurmaSampo Hardly a ‘bold claim’ and yes, you can’t even study medicine at Melbourne uni as an undergrad, you have to do another degree/s first, most medical schools require at ATAR of 99.5 and high score on the UMAT test and interview. The fees are over $100,000 for the degree too. Then after finishing there are years of long hours and low pay as interns and registrars.

@dilanshrimpton4492 9 месяцев назад

@@keithwagg4112 Duhh that's how you get into medicine in any country.

@tharunkumarvk99 7 месяцев назад

@@dilanshrimpton4492 Absolutely Right..!

@JohnDoe-yu3em 9 месяцев назад

Could a country not require payment for uni until the degree is completed (or the student leaves school), then subsidize companies who hire domestic graduates? It seems this would still allow for the country to benefit either way

@danpress7745 9 месяцев назад

Attended two US college induction ceremonies recently, one for MDs one for Tech/Engineers, both programs had over 20 different native languages represented.

@Gashshiningstar 9 месяцев назад

I mean that's going to happen if you deprive countries of their resources and make them believe that they cannot survive or function without a parental relationship (European) that they are learned to believe is necessary for success. The global majority is handicapped into failed psychosocial behaviors and characteristics of a functional inferior.

@DiscoFang 9 месяцев назад

In NZ, skilled graduates and workers leaving for overseas has always been referred to as The Brain Drain.

@mwam1985 9 месяцев назад

The US has the Foreign Earned Income Exclusion, so as long as you meet the requirements, you are excluded from income taxes up to $120k (2023), then it's taxed at a normal rate after that. So, if you make $200k/yr, you would only pay taxes on $80k.

@rafaelcosta3238 9 месяцев назад

still $80k too much

@nekopop8159 9 месяцев назад

@@rafaelcosta3238Yeah but atleast you be making $120,000 instead!! Still pretty good tho

@alfredbarrera9617 9 месяцев назад

The solution for developing countries is very simple. Stop funding education with taxes. In that way they won't waste money on people going abroad and on 80% of useless subjects that we attend at school. And also those countries would become more attractive due to lower taxes. I recommend reading the book "The case against education" it will open your eyes on this matter.

@rainasomani3540 8 месяцев назад

Heyy, I really love your videos , can you please provide it in notes form, I find them difficult to understand ,because of the speed and your diction.

@Birch37 6 месяцев назад

You spelt 'Labour' correctly. Well done 👏 ✔️ 👍

@joanneburford6364 4 месяца назад

He is Australian that's why.

@Birch37 4 месяца назад

@joanneburford6364 yes that's correct. Well done 😅😂

@nesseihtgnay9419 9 месяцев назад

What Peter Zeihan said is true too, he's a geopolitical strategist, he said north America will come out of up in the next decades, giving the falling population of the rest of the world, china is the worst, than Japan, South Korea and Germany. Peter Zeihan also talked about the skill workers and geology of their lands too.

@LackofFaithify 9 месяцев назад

Zeihan is a nationalist suck up who so far has scored a 0 on his predictions. You can go look up almost 15 years worth of the idiots pandering to the Right when he worked as the Republican Wunderkind at Stratfor.

@anaestereo810 9 месяцев назад

All I can say is that I worked both in EU and USA...on the latter job competition and peer pressure really lits a fire under your chair to keep upskilling and learning, while my experience in EU was that mostly because poor labor practices and salaries, nost individuals gave up and became conformists...you pay peanuts, you get .monkeys kinda thing. Good vid.

@asimpleguy2730 9 месяцев назад

I don't know if that's a generalization that is correct for the whole EU, but i'm sure it's correct for italy, which i'm from. Strong unions are good for the average worker, but for an ambitious worker they are more of an impediment since they add bureaucracy when job switching (notice periods), and create an environment where most worker don't care about the quality of their job since there is close to no risk to lose your job.

@I3igI30ss 9 месяцев назад

I agree. Conformism is rife, and ambition is rather frowned upon in many EU countries

@Flotter-Flo 9 месяцев назад

You act like ditching job security and regulation solves everything. Performance is far from the deciding factor whether you succeed in the US. Every workplace is full of petty backstabbers who get crazy vicious when they see someone outperforming them. Doing well can easily get you fired, too.

@mrcool7140 9 месяцев назад

Poor labour practices... Conformism... How about a cohesive society lol. You go and live in that neoliberal dystopia of a country. Good riddance.

@umfilhodedeustotalmenteama5522 7 месяцев назад

Homeless in the USA: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-n5Z4VwDlkkQ.html

@Miata822 9 месяцев назад

Thanks! Retired after selling a unique business but thinking about what I could do elsewhere as my non-compete expires.

@tomhavenith2330 9 месяцев назад

An Italian collegue of mine, when I still worked in the private sector in Brussels told me the offers he'd gotten from Italian companies. They weren't just lower, they were plain insulting for somebody with a decent education. I mean... there is a difference between -15% to -25% of the average European wage level, especially if the cost of living is adapted. And there were those garbage offers... they offered a three digit salary! That's completely insane. The rent was higher. The Italian private sector has a devaluated skilled labour to such a degree, that it's hurting their economy. You can't tell me the productivity of a Italian Engineer is 20% of a German/Belgian one... It's just cheapgoating to an extreme level and it hurts their economy.

@kevincronk7981 9 месяцев назад

I heard recently that there are 2 countries that tax based on citizenship, not 1, with the othercountry being Hungary. I remember I found that interesting because my mom, who's an American, lived and worked in Hungary for a while and I think only paid US income taxes

@mack0ka 8 месяцев назад

I dont think Hungary is like that.

@Jonas_M_M 9 месяцев назад

I am worried about how much this could hurt the global economy, but it is hard to ignore the attacks on the liberal world order by authoritarian states from a geopolitical standpoint.

@andreaskroknes4407 9 месяцев назад

Well summarized. This century`s great conundrum.

@ecoideazventures6417 9 месяцев назад

Dont worry too much. ask yourself - do skilled people want to immigrate to Russia, DPRK, Myanmar, Cuba?

@cyxcyx 9 месяцев назад

the liberal world order is not always right, there are many who prefer a more conservative one

@Randomguy-wd5lw 9 месяцев назад

Its actually more of a problem for the authoritarian world than the liberal world. Authoritarian countries don't attract foreign skilled labor that much.

@rafaelcosta3238 9 месяцев назад

@@Randomguy-wd5lw Gulf countries do not agree with you 👍

@aguel9997 9 месяцев назад

If you guys dont make a video about norway soon, I will need to get involved

@virginiachang10 8 месяцев назад

Do you know when Chinese media reports west news, it often comes with the original English version to support its unbiased reporting.

@j03man44 9 месяцев назад

Easy-ish solution. Post high school education is a grant that has to be paid off in back taxes if the student moves away within 5 years of finishing their education.

@lindseylinck 9 месяцев назад

There should be "Skill Migration" on the National Leaderboard, just for the meme. Being serious, the possibility to flee from failing countries that have no perspective of ever improving (like Brazil) to decent/developed places should not be impeded by any tax or "fairness" argument, because its both a matter of individual freedom and countries that are losing skilled workers deserve to lose them as consequence of why they are losing those workers in first place. Removing/restricting this fundamental liberty is treating people like possessions (or even slaves) of the countries in which they were born.

@IanHobday 9 месяцев назад

Tax treaties eliminate dual taxation in most cases. It would however hurt places that offer very low or zero income taxes.

@gcr6420 8 месяцев назад

Nice work

@jmlw4 9 месяцев назад

18:35 actually the U.S. is not the only country with a citizen based tax system. A lesser known east african nation called Eritrea also practices this. But since its ruled by a ruthless dictator, most of its citizens living abroad will happily lose any citizen rights than give money to the government they fled from. Its known as the North Korea of Africa for a reason

@arthas640 9 месяцев назад

I think more countries dont do that simply because most of the countries losing skilled workers are either EU members where the loss is mitigated because they mainly just move to fellow EU members or because their poor countries where people are often sending money back home and trying to tax them would only lead to more people leaving and then sending nothing back, not to mention the fact remittances are often taxed anyways and the purchases made with them usually are as well.

@gideonAschwanden 9 месяцев назад

The comparison of goods to skilled labour falls short since countries need a minimum number of some skills to be functional. Healthcare is a good example since the doctors from Germany working in Switzerland are missed in their home market which fills the gap with Polish Doctors. A better analogy are supply chains where demand at the front leads to huge spikes at the end. The result is that some countries are producing the skilled labor not only for one but for a whole list of countries.

@svart7716 7 месяцев назад

Polish doctors are very skilled. So it is advantageous to have polish doctors and nurses.

@ChrisAthanas 8 месяцев назад

@19m the FEIE allows US citizens to write off the first $112k of income if you stay outside the usa more than 330 days in a given year. Also you wont pay double taxes, but you will have more paperwork than usual. If you work for a usa company, thats not an issue and you still get to deduct the $112k So yes, leaving usa to work remote has amazing tax benefits

@ChrisAthanas 8 месяцев назад

Look up Foreign Earned Income Exclusion

@amermeleitor 9 месяцев назад

11:08 Man, the girl at the right nearly loses her eye 😅

@shrimpofdeath5199 9 месяцев назад

Me, who just applied for an Australian skilled worker visa: hmm, understandable :)

@zxvadcsfbh 9 месяцев назад

Congratulations

@videau234 9 месяцев назад

Australia is one of the most restricted countries to migrate as skilled worker. And once you get there, you realize there are no real jobs for skilled people. The competition is high and as a foreigner you are mostly in a disadvantage position.

@shrimpofdeath5199 9 месяцев назад

@@videau234 at least I won't get tortured and imprisoned for supporting the wrong candidate in the elections, lol

@zxvadcsfbh 9 месяцев назад

@@videau234 depends entirely on the job you are going for.