Russia’s long term economic prospects are good

The following statement regarding Russia’s labor force seems reasonable:

In general the educational level of the people is a good predictor of prosperity. The peoples of the former Soviet Union, including those in Russia and the Ukraine are the best educated middle income people in the world. Their levels of skills and education are well above their present economic level.  The potential to sell the goods and services demanded by a sophisticated educated population is vast.”

A well educated population is a foundation for rapid increases in productivity; as workers can be trained/learn to take advantage of modern standard manufacturing production methods and can develop new systems and products. The key is to focus on sectors that don’t have massive global overcapacity at the moment.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: