11th July 2014
A tiny sliver of humanity contributes more than 50 per cent to our progress and wealth. #3
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.
"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".
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.