Sala i Martín: "Europe does not care about being second division in research"

The Columbia University economist analyzed the challenges of the global economy, AI, and talent flight in Sant Cugat.

Un economista parla davant d'una audiència en una sala de conferències moderna, amb un enfocament en el podi i el micròfon.

Un economista parla davant d'una audiència en una sala de conferències moderna, amb un enfocament en el podi i el micròfon.

The internationally renowned economist Xavier Sala i Martín gave a lecture in Sant Cugat del Vallès on Thursday, January 8, where he stressed that excessive regulation in Europe causes a systematic talent drain, especially in sectors like artificial intelligence.

The professor at Columbia University and government advisor, Sala i Martín, began his presentation at the Trade Center, organized by the Aula d’Extensió Universitària per a la Gent Gran, emphasizing that, in the long term, only technology and ideas endure, not geopolitical events or pandemics. He argued that the current economy is based on inventions from a century ago, such as television or airplanes.
The economist applied this view to the artificial intelligence (AI) revolution, noting that, although the scientific ideas are European, the top talents work in North America. He cited the example of Oriol Vinyals, a Catalan and VP of AI research at Google, questioning why he is not in Sabadell or Sant Cugat.

"Europe has an excess of regulation. And I don't say this because I am a savage ultra-liberal; Mario Draghi, a social democrat and former president of the European Central Bank, says it too."

Xavier Sala i Martín · Economist and Professor at Columbia University
Sala i Martín explained that this talent flight is not an isolated incident but a systematic phenomenon affecting sectors like medicine, citing the case of Valentí Fuster, director of one of the world's most important hospitals, Mount Sinai in New York. He compared the situation to football, where salary inequalities are accepted to retain the best, which does not happen in research or healthcare.

"One person leaving is not a problem. The problem is when it becomes a systematic phenomenon. Then we must ask ourselves what we are doing wrong."

Xavier Sala i Martín · Economist
He concluded that the responsibility for this situation lies with society's priorities, not just politicians. Finally, he advised young professionals to leave if necessary, as a pressure measure to force a change in the country's rules, noting that an emergency cardiologist in the Catalan public health system earns only 17 euros per hour.

"When the country sees that the good people have left, then it will react and change the rules."

Xavier Sala i Martín · Economist
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