If you don’t read Reihan Salam, start now

Reihan is one of the most prolific and wide-ranging writers I know (The Agenda blog here, he also writes for The Daily).  His post “The Power of Good Management and the Frontier Dilemma” is a great example of his balance of theory, thought, and practice.

First, he links to and summarizes an article presenting an experiment done with Indian businesses.  The findings show the immediate and profound impact modern management techniques can have on laggard firms.

Interesting enough, but Reihan connects it to the big picture:

This is an illustration of a point that Brink Lindsey makes in his new paper on “Frontier Economics“: imitative growth is much easier to achieve than innovative growth, which is why poor countries like India have the potential to grow much faster than a frontier economy like our own…. We have to throw more effort at every increment of gain because innovation requires making lots of bad calls before you hit on managerial practices, products, etc., that consistently outperform existing best practices.

Now, doesn’t the world make a little more sense now?

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