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by Karishma1234 2891 days ago
Human Potential is worthless if it is not profitable. A lot of third world countries have jobs programs where they pay one group to dig holes and another group to fill up those holes.

What US currently lacks is the entrepreneurs who would come up with new products and services and then employe the unemployed, old people etc. But given the restrictions on immigration of highly skilled individual this is going to be tough to achieve.

3 comments

The education system and social expectations have not changed WRT entrepreneurship since the pre-1950s era, so naturally a model designed for producing cannon fodder factory workers in 1900 isn't going to work well in a 2020 economy. In that way the first half of your comment is correct. It'll be a cold day in hell when corporate funded clickbait journalism permits anything positive to be written about entrepreneurship. All big government retraining programs revolve around giving tax credits to big corporations for participating in taxpayer funded programs to retrain people to work for those big corporations. In exchange for campaign donations of course. Its always a scam, and its never to primarily benefit the individual participants.

The problem with the second half of your comment is its multiple applications of the magic dirt theory, in that somehow there exists a magic dirt in some countries that grows great entrepreneurs who are also magically forbidden from success in their own lands, yet supposedly magic dirt in other countries produces the opposite effect of people who cannot create business while in the conditions for great success. And somehow the solution to this magic soil fertilization issue is to take a solution that works for 1 person, such as moving around the world, and scaling it by 7.6 Billion to move the entire world population to Silicon Valley. The exact biochemistry is also mysterious, in that moving people around is implied to be a perm fix, although its more likely that moving people from "where X is broken" to "where Y is broken" will merely result in a larger quantity of "where Y is broken" people after a short amount of time, essentially re-enacting the slave trade to harvest a perpetual supply of human capital. Or maybe its a weird varient of old fashioned imperial era colonies complete with mercantilism. Move all the unemployed orange growers from Florida to Alaska, the only economic result will be a larger number of unemployed orange growers in Alaska rather than FL. Likewise there is no number of experienced profitable Maine fishing boat captains adequate to import and create a lobster fishing boom in Nevada, South Dakota, or Wyoming. Problems that don't scale have to be solved at the root of the problem, rather than brute force. On an individual basis, of course its nice when immigrating entrepreneurs work out, but for a variety of reasons it's not a scalable or long term solution to the very large scale overall economic problem.

A lot of third world countries have jobs programs where they pay one group to dig holes and another group to fill up those holes.

That pretty much describes most of humanity, resource extraction to landfill with a brief stop off in our living rooms.

Immigrant entrepreneurs aren’t going to magically start hiring elderly and other under employed cohorts.
No, may be they will hire all the young ones and native born will hire the elderly. The idea is to unleash creativity.