Where does growth come from? Why do some countries emerge and take on developed status while others flounder before reaching that stage?
Some once unlikely candidates have emerged as powerful economies. South Korea grew in two generations from a peasant economy devastated by war to a fully paid-up member of the developed world. Others far better placed have stumbled.
This is not simply a question of natural resources or of educational systems. Research led by Ricardo Hausmann at Harvard suggests growth is “driven by knowledge – at the level of society, not the individual”.
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