“weak links between universities, industry, and the state limit the productive use of talent” I wonder - do the weak links really drive low productivity? Thinking out loud: I would guess that low capital investment and relatively small market opportunities might be bigger factors here.
Perhaps related if your point is that the state isn’t deploying capital and providing security guarantees or proper regulation needed for markets to be as effective as they could be
Yeah, I think you’re right, and I probably overweighted that point if read on its own. I don’t think weak university–industry–state links are the main driver of low productivity. The bigger story is exactly what you’re pointing to: misallocation, low capital intensity, small effective markets, and weak incentives to scale. If firms don’t invest better, don’t grow better, and don’t face strong competitive pressure, then even well-trained talent won’t move too much or allocate better. Also, let's think about the previous comment on the article about problems, elites and the government itself survive even if the economy as a whole underperforms.
“weak links between universities, industry, and the state limit the productive use of talent” I wonder - do the weak links really drive low productivity? Thinking out loud: I would guess that low capital investment and relatively small market opportunities might be bigger factors here.
Perhaps related if your point is that the state isn’t deploying capital and providing security guarantees or proper regulation needed for markets to be as effective as they could be
Yeah, I think you’re right, and I probably overweighted that point if read on its own. I don’t think weak university–industry–state links are the main driver of low productivity. The bigger story is exactly what you’re pointing to: misallocation, low capital intensity, small effective markets, and weak incentives to scale. If firms don’t invest better, don’t grow better, and don’t face strong competitive pressure, then even well-trained talent won’t move too much or allocate better. Also, let's think about the previous comment on the article about problems, elites and the government itself survive even if the economy as a whole underperforms.