During class conversation today, I felt it necessary to describe the compensating wage differential (stressful/tedious jobs are paid well and relaxing/rewarding jobs are paid poorly). I then promptly forgot why I brought it up.
I now remember. I described Paul Kagame's (Rwanda's president) desire to turn his country into a sort of Switzerland of Africa, notably a sophisticated banking center. We agreed this was a long shot but it's longer than most think. It reminded me that so many developing countries (and developed countries) wish to jump into the high end sectors. Medical plazas, software companies, financial services--industries that are prestigious and clean. Societies, and thus governments, put so much value on these services, we shouldn't be surprised that they are over supplied (part of the reason the financial sectors have been taking a beating lately).
Thus the wage differential. If a job is cool, lots of people will want to do it, depressing the wages it offers. If a sector is hip, so many will jump into it and shrink its returns. I wish we'd stop treating development (and growth) as if the whole world could get a job as ice cream taste-testers.