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chii | on: UK's hardware talent is being wasted
> labour enriches other countries while our country gets poorer.

in reality, the UK isn't poorer than before. It is about the same - no growth. It is only poorer when compared to the US's growth.

One's labour, when being paid market rates, does not make one's country poorer. And those profits from said labour was paid for by the acquitition of the capital - money was invested.

So in essense, the "poorness" that the UK feels right now is not a result of these companies getting foreign ownership, but the UK gov't lack of industrial policy and investment. Brexit is the last straw probably.

eru | parent | next
> [...] but the UK gov't lack of industrial policy and investment.

That's a weird conclusion to draw.

Governments aren't generally known for their ability to pick winners ahead of time. How about instead of trying industrial policy (again), the UK could try to remove roadblocks that keep them from having successful companies?

They could also try to leave more money in the hands of taxpayers, so they can invest.

philipwhiuk | parent | next
If the profits move out, the opportunity cost is that this money isn't spent in the UK which hits GDP which is how growth is calculated.
eru | root | parent
Remember: Google paid for Deepmind. Presumably the sellers aren't idiots.
uncletammy | parent
It is far poorer after you account for the brain drain and the opportunity cost of the brains that choose to remain.