Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • Debbie Young
  • Jimmy Buffett
  • Key West
  • Your Survival Guy
  • How We Are Different
  • Paris
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • The Great Reset
  • The Swiss Way
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • Dick Young
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool
  • Anti-Gun Control
  • Anti-Digital Currency
  • Joel Salatin and Alfie Oakes
  • World Gold Mine Production
  • Fidelity and Vanguard Since 1971

Will Russian Brain Drain Hurt it Worse than the War?

September 26, 2022 By The Editors

By Alexander Mak @ Shutterstock.com

Most of the kinetic damage Russia has taken in its war with Ukraine has occurred within the borders of Ukraine, but serious damage is being done as the best of Russia’s human capital flees for other countries to escape the war and its increased state control. In The Wall Street Journal, Georgi Kantchev, Evan Gershkovich, and Yuliya Chernova discuss the thousands of professionals leaving Russia, writing of the exodus:

Hundreds of thousands of professional workers, many of them young, have left Russia since its invasion of Ukraine, accelerating an exodus of business talent and further threatening an economy targeted by Western sanctions.

Those leaving the country include tech workers, scientists, bankers and doctors, according to surveys, economists and interviews with emigrants. They are departing for countries including Georgia, Armenia and Turkey. More are expected to follow.

A mid-March survey by OK Russians, a nonprofit helping people leave the country, estimated that around 300,000 workers had departed since the war started in late February. While precise counts of the number of people leaving Russia aren’t available, some economists have reached similar conclusions about the scale of the outflow. Around 500,000 people left Russia in 2020, according to Rosstat, Russia’s statistics agency.

“The people who are either leaving or planning to leave are highly educated and generally young,” said Elina Ribakova, deputy chief economist at the Institute of International Finance. “This is your most productive part of the labor force that is disappearing.”

The European Bank for Reconstruction and Development, a top regional development bank, expects the Russian economy to contract 10% this year.

It added that people leaving Russia, coupled with reduced investment and trade, would result in lower long-term productivity growth. Spending on information technology is expected to drop sharply.

While Russia has encouraged dissenters to leave, it has also acted to stem the outflow of professional workers. President Vladimir Putin signed in March a decree granting a waiver from military conscription to people employed in the tech sector. Russian authorities are also offering tax breaks, cheaper loans and preferential mortgages to entice tech workers to stay.

If you’re willing to fight for Main Street America, click here to sign up for the Richardcyoung.com free weekly email.

Related Posts

  • Is Biden Encouraging a Russian/Ukrainian War?
  • DOGS OF WAR: America's Neocons Ignore Russian Grievances
  • How Badly Could Russian Cyberattacks Hurt the USA?
  • The Russian Witch Hunt
  • Author
  • Recent Posts
The Editors
Latest posts by The Editors (see all)
  • A Step above Organic: Biodynamic - September 25, 2023
  • Can You Enhance Your Body’s Ability to Fight Blood Cancers? - September 25, 2023
  • What Do You Know about Quercetin? - September 25, 2023

Dick Young’s Must Reads

  • Who Is Alex Jones?
  • Key West’s Best Burger
  • Boom—Your Life Changes
  • The Simple, Elegant Power of the Retirement Compounders
  • Why Some Kids Won’t Go Back to School, Ever
  • “I Need Preservation of Principal and Growth”
  • “An Epic Struggle Over the Definition of America”
  • Sen. Hawley Makes the Case Against U.S.-China Relationship
  • The Government Attack on Americans’ Independence
  • The Problem in America

Our Most Popular Posts

  • A High-Speed Collision with Reality
  • Will the UAW Get What It Wants?
  • New York Finds a New Way to Harass Gun Owners
  • Americans Are Not Happy with Bidenomics
  • Ron Paul Exposed the Fed and the Neocon Scam
  • Don't Tread on America's Children
  • Bidenomics Gutting Real Household Income
  • “I Want to Be a Farmer, a Garbageman, or Tom Brady”
  • So Much for Mozart
  • Wellington and Wellesley Funds Not Managed by Vanguard

Compensation was paid to utilize rankings. Click here to read full disclosure.

RSS Youngresearch.com

  • Wellington and Wellesley Funds Not Managed by Vanguard
  • Inflation Could Kill Social Security
  • Will the Fed Hold Up Its End of the Bargain?
  • Should America Move Closer to the Saudis, or Push them Away?
  • Don’t Ask Me When to Haul Your Boat
  • Robot Warehouses Need Better Internet
  • California Mandates Drive Diesel Truck Buying Spree
  • Americans Are Not Happy with Bidenomics
  • Paris’s Big Plans for the Champs-Elysées
  • A Plan for Cutting Federal Government Spending

RSS Yoursurvivalguy.com

  • Wellington and Wellesley Funds Not Managed by Vanguard
  • Remembering Jimmy Buffett: The Oldest Surfer on the Beach
  • The Folly of Windmills from Nowhere USA
  • NYC Rolling Out the Robocops
  • Will the Fed Hold Up Its End of the Bargain?
  • Are Most NFTs Now Worthless?
  • 2ND AMENDMENT ALERT: Biden to Create New Anti-Gun Office
  • Don’t Ask Me When to Haul Your Boat
  • You May Be Surprised by America’s “Least Woke City”
  • GREENWASHING: What’s in a Name?

US Treasury Yield Curve: My Favorite Investor Tool

Five Year Treasury Yield

Speaking of Bad Ideas …

The Single Worst Market Timing Event in History

Your Survival Guy Fishing with Dolphins

“But What Happened to Eggs?”

Copyright © 2023 | Terms & Conditions | About Us | Dick Young | Archives