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Coupled with the American paradox, does this suggest that human capital is not necessarily correlated with [formal] education, after all? (Indeed the first cha
by gsf_emergency_2 2y ago
Coupled with the American paradox, does this suggest that human capital is not necessarily correlated with [formal] education, after all?
(Indeed the first chart looks like a scatterplot, so there is no need to invoke anecdata)
But considering the author's expertise maybe he's trying to point towards studying the correlation with hardwork-- a better proxy? Some say that is already factored into GDP calculations.
- simmerup 2y agoIt's probably just massively affected by having state structures that support individual choice. If people have trust that if they see a problem they can solve it and reap the rewards without the state stealing it from them, they do it. If not, they don't. And those individual actions spread out over millions of people reap compounding benefits
- gsf_emergency_2 2y ago>and reap the rewards Hmm. To chart the risk for individuals a bit better, maybe that "hardwork" ought to be replaced by "shlep-blindness" https://news.ycombinator.com/item?id=3465521 https://news.ycombinator.com/item?id=3465521 (From top comment) >one persons schlepp is another mans passion. >You'd have to make deals with banks. E.g. one can argue that Russia is full of passions (but not banks)