Essay: Size of a working age population in a country and its correlation with national GNP in advanced economies. The ability of the United States to attract some of the best and brightest workers in the world

Size of a working age population in a country and its correlation with national GNP in advanced economies

In advanced economies, there is a high correlation between the size of a country's working-age population and its national gross national product (GNP).

The abstract for the 2023 academic paper The Wealth of Working Nations published by Department of Economics, University of Pennsylvania by Jesus Fernandez-Villaverde, Gustavo Ventura, and Wen Yao indicates:

“

Due to population aging, GDP growth per capita and GDP growth per working-age adult have become quite different among many advanced economies over the last several decades. Countries whose GDP growth per capita performance has been lackluster, like Japan, have done surprisingly well in terms of GDP growth per working-age adult. Indeed, from 1998 to 2019, Japan has grown slightly faster than the U.S. in terms of per working-age adult: an accumulated 31.9% vs. 29.5%. Furthermore, many advanced economies appear to be on parallel balanced growth trajectories in terms of working-age adults despite important differences in levels. Motivated by this observation, we calibrate a standard neoclassical growth model in which the growth of the working-age adult population varies in line with the data for each economy. Despite the underlying demographic differences, the calibrated model tracks output per working-age adult in most economies of our sample. Our results imply that the growth behavior of mature, aging economies is not puzzling from a theoretical perspective.

”

The ability of the United State to attract some of the best and brightest workers in the world

See also: Essay: Does the United States need more immigration?

In the modern world, immigration policies are a part of great power competition. For example, many Jewish scientists who fled Nazi Germany worked on the Manhattan Project.

The Baltimore Sun's article Many of America's best and brightest are immigrants indicates:

“

Of the six Nobel Prize winners in America in 2016, all six were immigrants. Indeed, more than one-third of U.S. Nobel Prize winners in chemistry, medicine, and physics have been immigrants. Since 1960, 23 immigrants won Nobel Prizes in chemistry, 20 in medicine and 21 in physics. These are amazing statistics that should not be ignored. Clearly, immigration and public education are what make America great. Most people coming to this country cannot afford to send their children to private schools. To be sure, most immigrants come here not only to flee oppression but also for the free and quality education our public schools have long provided.

”

The article Attracting (and Keeping) the Best and the Brightest states: "We can clearly see the benefits of skilled immigration in cities such as Pittsburgh, which have transformed their declining steel economies to those driven primarily by research and development (R&D) as well as entrepreneurship in the fields of artificial intelligence and the life sciences. International students make up approximately 50% of the Carnegie Mellon University students seeking to launch a startup company in Pittsburgh... Just a decade ago, the economist William R. Kerr documented that between 2000 and 2010 more international inventors immigrated to the United States than to the rest of the world combined."

In addition, the article Attracting (and Keeping) the Best and the Brightest points out the recently the United States has "made an important change by reestablishing the nascent International Entrepreneur Rule for prospective founders who can secure at least $250,000 in investment from a qualified US investor. The program allows a renewable two-and-a-half-year period for entrepreneurs to try building a business in the United States, with the ultimate goal being permanent residence via a transition to a Green Card."

Manjari Chatterjee Miller notes: "The history of Indian immigration to the United States dates back to the nineteenth century. Up until World War II, Indian immigrants were mostly low-skilled migrant workers. This pattern changed by the mid-twentieth century, when Indians flocked to the United States to study or work white-collar jobs. In India, this phenomenon was often dubbed the “brain drain,” as India’s best and brightest left to settle in the United States. Today, Indians constitute the second-largest immigrant group in the United States after Mexicans, and the highest-earning ethnic group in the country."

In 2023, The South China Morning Post's article China’s millionaires keep leaving, but now outflows may be ‘more damaging than usual’ states:

“

Advisory firm Henley & Partners estimates that mainland China will lose 13,500 high-net-worth individuals – those with investable wealth totalling more than US$1 million – followed by India’s 6,500. The UK, in third, will lose 3,200 such individuals, predicts the London-based investment migration consultancy. In 2022, China lost 10,800 high-net-worth individuals, followed by Russia’s 8,500 and India’s 7,500, according to data in the “Henley Private Wealth Migration Report 2023” released on Tuesday... The US’ start-up and employment visa programmes, including “national interest waivers” (NIWs) under the green-card application process, are also popular among Chinese tech, medical and academic professionals and researchers, especially those impacted by the downturn in China’s tech sector, Liu said. “They pay attention to opportunities for skilled immigration from Singapore and the United States,” Liu explained...

”

See also

• Fertility Rates and Population Projections
• Gross National Product

Essays:

• The United States will be the leading power in the world for the foreseeable future
• Is the USA an economic powerhouse and juggernaut?
• The USA can reduce its national debt. It has done it before
• The citizens of the United States are happier than the citizens of Russia and China. USA! USA! USA!
• The U.S. Navy is the most powerful navy in the world
• The USA will become bigger, better and stronger than ever before! Russia and China will not! USA! USA! USA! - Humor