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Some economists say Ireland is experiencing a 'Brain Drain' due to emigration - Leaving Cert Economics - Question 8 - 2015
Question 8
Some economists say Ireland is experiencing a 'Brain Drain' due to emigration. Explain the underlined term and state one other economic problem that Ireland may exp... show full transcript
Worked Solution & Example Answer:Some economists say Ireland is experiencing a 'Brain Drain' due to emigration - Leaving Cert Economics - Question 8 - 2015
Step 1
Explain the term 'Brain Drain'
Answer
The term 'Brain Drain' refers to the emigration of highly skilled and educated individuals from Ireland to other countries, seeking better job opportunities and living conditions. This phenomenon results in a loss of essential human capital for the country, which can hinder economic growth and development. When talented workers leave, their skills and knowledge are no longer available to contribute to the Irish economy, leading to potential long-term negative impacts.
Step 2
One other economic problem:
Answer
One other economic problem that Ireland may experience due to emigration is the possibility of a higher dependency ratio. With younger, skilled workers leaving the country, the remaining population may consist of a higher proportion of dependents, such as retirees and young children, compared to the working-age population. This shift can place a strain on public resources and services. Additionally, there is a loss of investment in the training and education of these individuals, as the country does not benefit from their contributions after having invested in their development.