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A tiny sliver of humanity contributes more than 50 per cent to our progress and wealth. #3

Thursday, July 10, 2014 19:53

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The human capital literature in economics does not have refined studies that distinguish top talent from ordinary talent. The paper I cited here was the first I had come across but it was not an empirical analysis.

Now, the Economist has written about a paper that proves this hypothesis empirically, that top talent matters most.

http://www.economist.com/blogs/freeexchange/2014/07/education-and-industrialisation?

“It is the skills held by top engineers and entrepreneurs that enables a society to innovate and foster the type of rapid technological progress that characterised the industrial revolution”.

(Word version of the Economist article and PDF of the paper).

All the more reason for India to focus on “upper-tail knowledge” – or ultra-talent.

BRAIN DRAIN MATTERS – BUT ONLY AT THE VERY TOP END.

Source: http://www.sabhlokcity.com/2014/07/a-tiny-sliver-of-humanity-contributes-more-than-50-per-cent-to-our-progress-and-wealth-3/

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