Thailand established in 1997, within National Science and Technology Development Agency, a 2.2 billion baht project called "Reverse Brain Drain". Its aim is to "use 'brain' and 'connections' of Thai professionals living overseas to help in Development of Thailand, particularly in science and technology."

The OECD ("International Mobility of Highly Skilled") believes that:

"More and more highly skilled workers are moving abroad for jobs, encouraging innovation to circulate and helping to boost economic growth around globe."

But it admits that a "greater co-operation between sending and receiving countries is needed to ensure a fair distribution of benefits".

The OECD noted, in its "Annual Trends in International Migration, 2001" that (to quote its press release):

"Migration involving qualified and highly qualified workers rose sharply between 1999 and 2000, helped by better employment prospects and easing of entry conditions. Instead of granting initial temporary work permits only for one year, as in past, some OECD countries, particularly in Europe, have been issuing them for up to five years and generally making them renewable. Countries such as Australia and Canada, where migration policies were mainly aimed at permanent settlers, are also now favoring temporary work permits valid for between three and six years ... In addition to a general increase in economic prosperity, one of main factors behind recent increase in worker migration has been development of information technology, a sector where in 2000 there was a shortage of around 850,000 technicians in US and nearly 2 million in Europe..."

But OECD underplays importance of brain drain:

"Fears of a "brain drain" from developing to technologically advanced countries may be exaggerated, given that many professionals do eventually return to their country of origin. To avoid loss of highly qualified workers, however, developing countries need to build their own innovation and research facilities ... China, for example, has recently launched a program aimed at developing 100 selected universities into world-class research centers. Another way to ensure return ... could be to encourage students to study abroad while making study grants conditional on student's return home."

The key to a pacific and prosperous future lies in a multilateral agreement between brain-exporting, brain-importing, and transit countries. Such an agreement should facilitate sharing of benefits accruing from migration and "brain exchange" among host countries, countries of origin, and transit countries. In absence of such a legal instrument, resentment among poorer nations is likely to grow even as mushrooming needs of richer nations lead them to snatch more and more brains from their already woefully depleted sources.

More than 10,000 workers died in 1997 in Japan from work-stress related problems ("Karoshi") . The Japanese are even more workaholic than Americans - a relatively new phenomenon there, according to Testsuro Kato, a professor of political science in Hitotsubashi University.

But what is impact of all this on employment and shape of labour?

The NCOE identifies five common myths pertaining to entrepreneurial growth companies:

The risk taking myth - "Most successful entrepreneurs take wild, uncalculated risks in starting their companies". The hi-tech invention myth - "Most successful entrepreneurs start their companies with a breakthrough invention - usually technological in nature". The expert myth - "Most successful entrepreneurs have strong track records and years of experience in their industries". The strategic vision myth - "Most successful entrepreneurs have a well-considered business plan and have researched and developed their ideas before taking action". The venture capital myth - "Most successful entrepreneurs start their companies with millions in venture capital to develop their idea, buy supplies, and hire employees". Entrepreneurship overlaps with two other workplace revolutions: self-employment and flexitime. The number of new businesses started each year in USA tripled from 1960's to almost 800,000 in 1990's. Taking into account home-based and part-time ventures - number soars to an incredible 5 million new businesses a year. Most entrepreneurs are self-employed and work flexible hours from home on ever-changing assignments. This kaleidoscopic pattern has already "infected" Europe and is spreading to Asia.

Small businesses absorbed many of workers made redundant in corporate downsizing fad of 1980's. They are backbone of services and knowledge economy. Traditional corporations often outsource many of their hitherto in-house functions to such nascent, mom-and-pop, companies (the "virtual corporation"). Small and medium businesses network extensively, thus reducing their overhead and increasing their flexibility and mobility. The future belongs to these proliferating small businesses and to those ever-fewer giant multinationals which will master art of harnessing them.