A thing I believe with medium confidence: One reason many institutions today are weaker than counterparts were generations ago was that allocation of smart people got more efficient for certain definitions of efficient, and institutions no longer benefit from so much free lunch.
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"Can you give me an example?" The Catholic Church for much of recorded history, teaching as a profession prior to women having routine access to professional employment, the United States federal government between about 1920 and about 1960, etc.
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I mean they could just pay more? I feel many rounds of austerity have generally made the reward function for public service pretty grim. Even if down for some sacrifice… At the same time it’d be lovely to kill off high rewards in the rent seeking sectors. (Finance, etc)
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I think an important, but probably controversial, implication of my thesis is that "rent seeking" is how institutions which previously had unwarranted preferential access to brains justify their relatively poor use of them vis more efficient institutions.
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One thing I would do with this is bet against unions. They survive by aggregating talent, taking an overhead, then redistributing the proceeds in such a way that the majority is better off; much easier when the highly productive minority can't strike out on their own.
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I'll take the other side of this trade. What's your maturity date?
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Doing a fellowship on religion and one of the themes has def been the decentralization of authority due to top talent being able to create their own brands/communities outside of institutions and orgs. Especially women and others who weren't afforded the same level of access.
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One improvement would be important institutions competing more for top talent (eg the US govt paying market rate for programmers).
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You’re not supposed to notice. Next thing, you’ll be reading Charles Murray. I think we will eventually get a flow of high level talent back into things like the skilled trades simply because there are niches for genius level plumbers, electricians, etc, that aren’t filled.
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