Timmy elsewhere

At the ASI.

If US and UK human capital is lower (ie, crap education) than many other places, yet GDP is higher, that must mean that the instutitions by which we exploit capital to create income must be more efficient.

3 comments on “Timmy elsewhere

  1. Or value is created by a tiny elite group of people and the UK and US education systems do well for them while failing everyone else.

    Or more likely immigration makes up for a lot of other things.

    After all, any number of talented Central Europeans, not all of them Jewish, did no end of good physics at American Universities. But they did not produce a talented generation of students to follow them. In fact if you named the top 20 people in any intellectual field over the past century, it is incredibly unlikely that a single one went to an American university.

    Doesn’t mean that America has not create a huge amount of stuff that has made the world a much better place. It is just that tenured smart ar$es are less important to that process than they think.

  2. Another alternative is that those who go on to create world class businesses in the UK & US do so despite the state education system.

    Possibly privately educated or home schooled?

  3. No. If our growth rate were higher THAT would prove our governmental institutions more efficient.

    We started off better off which proves our institutions were better than the world average during the Industrial Revolution.

    In fact our growth is abysmal and America’s poor compared to the world average of 4.8% let alone the non-EU average of 6%.

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