Take a look at this article - New Orleans Brain Drain
We've talked about it, and now the media is waking up to it. There are clearly more than a few ways for a city to die - losing its doctors, educators, and administrators is a particularly painful one. The late Milton Friedman would probably argue that any deficit created by the departure of the young and talented will be filled by the market, but the market may well adjust for this through attenuated demand. In other words, other folks will leave, too.
I wish I had the solution - maybe all of the construction firms and land speculators should start thinking about this.
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