It is all about the Superstars
Pieter GaricanoSize matters
Size matters
Otro articulo en el blog de los Garicano (en este caso el hijo) sobre las diferencias entre la competitividad de Europa y USA. El análisis de este articulo se centra en las grandes empresas y su impacto en la productividad. Una de las principales diferencias entre USA y Europa es que la primera tiene muchas más superstars:
Consider the following facts: * 80% of space cargo is launched by a single company, SpaceX. * Up to 95% of AI computing chips are designed by one firm. * 100% of approved mRNA vaccines have been developed by two firms. * The three frontier labs driving progress in AI have around 8000 employees combined — no more than 0.2% of the tech sector. * Five firms (Amazon, Alphabet, Meta, Apple, and Microsoft) collectively account for almost twice as much R&D as the entire EU public sector. * The ≈7.5 million people in the Bay Area have created more tech value than the ≈750 million people in all of Europe. Take away the outlier sectors — software, biotechnology and the Musk manufacturing complex (SpaceX, Tesla) — and the American economy indeed does not look that dynamic. Many industries are characterized by stagnant or even declining productivity. But thanks to the superstars, the U.S. is leaving Europe behind
Y tras analizar las causas de esto, se plantea que la pregunta que uno debería hacerse para cada paso en política económica sería:
What does this do for my outliers? If I have a citizen who is extraordinarily talented and wants to work on a big idea and conquer the universe, am I helping them or am I getting in their way?”
Por último explica que el foco en los outliers no tiene porqué perjudicar la vida del ciudadano medio. Pone el ejemplo de Israel, con un sistema de protección social parecido al europeo, pero con un foco en las empresas que destacan sobre las demás.
Israel seemingly maximizes its citizens’ abilities to create extremely impactful firms, subject to maintaining on its social model.
En fin, un análisis muy interesante de dos aspectos que explican parte del gap entre USA Y Europa: