More stuff I didn't write, but I really like it.
The commonly recited pros of having a healthy, educated, socialized population are: social stability; less desperation, violence and civil disobediance; presumably more development and social benefits by having a wider pool of talent to draw from.
But the drawbacks are: a wider pool of talent to draw from. This means more competition for the current priveleged groups. John McCain, for example, would be much better off if women or blacks hadn't been enfrachised.
These are basic protectionism arguments, applied to talent rather than international boundaries.
Additional point that is demonstrated by emerging economies: increased competition for resources. You can liberate/elevate a bunch of people, thinking they're going to become productive members of society and become an asset for you. But those newly productive people are developing tastes for gasoline and beef, and that's driving up prices for everybody -- not to mention generating environmental impacts. And as anyone who has gone from a driving a broken down Maverick to a new Toyota can attest, once you taste wealth and convenience, you will redouble your efforts to prevent backsliding.
Interesting if the legacy of Reagan and that lot will turn out to be, not the champions of "freedom," but rather, "the dimwits who let the rabble into the country club."