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(This is where macro-economics fails to capture the phenomena.)

Depends on who the 10,000 is ... doesn't it?  Only (about) 3% of a nation's population is Creative Class where the rubber-meets-the-future.  In some industrial areas we're talking tens of people who have the knowledge and ability to drive the R&D to successful products.  


Fukushima was the leading global center for digital camera research and development.  With these people dead, missing, or running away from radioactivity the entire digital camera industry is falling from the grasp of the Japanese.  If it get away from them, they won't get it back; they will always be behind the curve.  

Same basic process happened to Motorola and is happening to Nokia in the mobile telephony business.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Sun Jun 12th, 2011 at 12:11:59 PM EST
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