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How China Misallocates Human Capital - by Phemonoe

blogarithmic.substack.com · 809 words · saved by 1 readers

There is a nifty phenomenon I have observed in the United States.

There is a nifty phenomenon I have observed in the United States. The best and brightest often consider starting their own company as potential route in life, rather than conform to a specific preset track of academia or high-paying careers. The best and brightest often hold a mindset that, even if they fail, they can always rely on their own wits to succeed in life despite the odds being stacked against them. This is not the case in China. While the United States may sort its best and brightest using an SAT, the equivalent of such an exam is known as the Gaokao in China. This test is…

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