It probably not wise for someone whose expertise is valuation and investing to venture into to political economics. But what I call the "human investment decision" is so important I could not resist. In this blog, I have focused on investing in securities, but the most important investment people make is in the own offspring. Therefore, I ask you to consider what follows.
is a demographic aspect of the human investment decision as well. In societies where women have the full panoply
of opportunities available to them, they choose, on average, to have fewer
children, with carefully chosen partners, and to make sure that there is sufficient
investment in the limited number of offspring.
The result is stabilization of population at a high level of
income. Conversely, when women are
unable to control their reproductive decisions, either because of ignorance,
domination by men and male sexual whims, or religious and social impediments,
the result is more children with little investment in each. As a result, population growth is fastest in
those parts of the world where the aforementioned problems are the most severe. It is not surprising, therefore, that the more
energetic people born into those parts of the world, and with knowledge via
social media of what is available elsewhere, want to move to places like
Scandinavia not afflicted with the problems.
However, attempting to migrate much of the Middle East or Africa to
Denmark is clearly not an equilibrium outcome.
The only viable solution is to make Damascus and Lagos more like
Copenhagen. And there is only one path
to that solution – massive investment in the opportunities for women
worldwide. To be clear this is not a
“feminist issue” though feminists may support some of what I say. Sufficient education of and opportunities for
women is the critical issue for adapting our societies and our planet to the
massive changes brought by technology. As
such, it goes far beyond “equal rights for women.” Adaption requires unprecedented attention to human
investment decision. That decision can
only be made by educated women to whom all the options of an advanced society
are available and who have complete discretion over their reproductive decisions.