In the recent Newsweek Mac Margolis notes the brain drain in Venezuela.

Venezuela’s Brain Drain

read the whole article here.


And now after a decade of the so-called Bolivarian revolution, tens of thousands of disillusioned Venezuelan professionals have had enough. Artists, lawyers, physicians, managers and engineers are leaving the country by droves, while those already abroad are scrapping plans to return. The wealthiest among them are buying condos in Miami and Panama City. Cashiered oil engineers are working rigs in the North Sea and sifting the tar sands of western Canada. Those of European descent have applied for passports from their native lands. Academic scholarships are lifeboats. An estimated million Venezuelans have moved abroad in the decade since Chávez took power.

HKO comment- Once realization of Castro’s oppression was clear Cuba experienced the same talent drain and never recovered. No amount of oil or resources will overcome the loss of your most talented and productive citizens.

You may rob Peter to pay Paul and get Paul’s approval, but count on Peter leaving town.