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A very interesting article and phenomenon. Working in the the engineering field I can't tell you the amount of brilliant people that come over to north america only to have their credentials turned down. Some people with Phd's in Engineering or Neuroscientists who have to start from the bottom. The sad part is that we have tests to determine their equivalency.
It is a big loss in terms of brain power. However the correlation between education and ability to produce great product or manage well isn't one to one. I know many people (as i am sure most of you do) who are brilliant in class and in a textbook, but once you give them a real world problem they crumble.
However, the bottom line is, keeping educated people in north america will help the economy. However as it becomes easier to travel around the world, I think we will see many new immigration patterns. I have considered myself moving abroad to cash in on engineering jobs in countries like Kuwait and Dubai to start my career and then move back later.
It will be interesting to see what the increased mobility that today offers does to traditional career and living patterns.
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