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Brain Drain In The Bahamas Essay

2836 words - 11 pages

Throughout the world, a 'brain drain' epidemic is predominant and is largely occurring in just about all countries and even the mighty country of China. If a country as rich and powerful as China can feel the wrath of this monstrosity known today as 'brain drain'; then there is no exception for third world countries such as the Bahamas. In the Bahamas, many parents are making the dire decision to persuade their child/ children, who have already, went abroad and completed their schooling, to remain aboard in order to get a good job in their field of study. This migration of skilled workers from poor countries to rich countries is popularly known as ‘Brain Drain’; and is diversely affecting the Bahamas economy today.
Throughout history many countries experienced a ‘brain drain’ within their economy, but it was not as predominant as it is today, because it was done on a smaller scale. Many people had to leave their families and homes to venture off to other countries in search of a better job. Chiswick claims that migrants are positively self-selected: the more highly skilled are more likely to move because they obtain a higher return on their human capital investment in mobility. This has negative effects for countries or origin, by causing a ‘brain drain’ (Chiswick, 23). Yes, this is witnessed when many Bahamians decide not to return home but stays abroad because they were able to find better jobs with higher pay and life abroad is better than in their country. The Bahamas is known worldwide as a third world country. Prior to the Independence, many of the Caribbean countries, were under and apart of the British ruler ship and where denoted as colonies of Britain. This British power used many of their assets to help fund of their colonies. When these colonies decided to disentangling themselves from Britain they lost the funds that were allocated to them; and the Bahamas is no exception.
As stated in the Commonwealth of the Bahamas history, “A most significant change occurred in 1969 with a new constitution whereby the British Government agreed to entrust matters dealing with internal security and external affairs to The Bahamas Government” ("Commonwealth of the Bahamas History " 3). This means that after the Bahamas gained independence, the people of the Bahamas were given control of governing the country independently and protecting its borders. With this independence the government and the people had to take on the responsibility of produce ways to receive funds economically in order to have a thriving economy. Worldwide The Bahamas is known as a third world country. According to Hartnell “The Bahamas' national debt will breach the $5 billion mark before the end of the upcoming 2012-2013 fiscal year” (Hartnell). This debt epidemic is occurring because after Independence, the Bahamas government borrowed a substantial number of cash from the Central Bank of the Bahamas, International Monetary Fund (IMF) and the World Bank. With borrowing this...

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