Around the web: How America could kick-start economic growth, the role of humans in a data-driven world, and more
America’s got talent, but not nearly enough — WSJ
If innovation is the primary driver of growth, and the most productive workers are the primary drivers of innovation, doubling the number of workers who currently represent the top 5% of America’s talent could double the U.S. growth rate. America has 125 million full-time workers, so the top 5% is just over six million. The U.S. currently issues a million green cards a year. By targeting the most talented would-be immigrants, the U.S. could double its high-productivity pool in short order.
To minimize competition with the domestic workforce, the U.S. could recruit and employ the rest of the world’s best engineers. The highest-scoring American students have increasingly moved away from STEM fields—science, technology, engineering and math—toward business and law. America’s success relative to Europe and Japan—both of which produce a greater share of STEM graduates—indicates that innovation requires a combination of STEM and commerce to succeed. The rest of the world is racing to educate more business majors but continues to graduate a disproportionate number of engineers.
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