Ep. 671: Bryan Caplan Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of National Test Scores on National Prosperity
There are criticisms that made me pause and think while I was writing the book. In terms of intellectual seriousness, there's a famous education economist named Eric Hanyashak who has done a lot of work on the importance of national test scores on national outcomes. And in particular, what he says is there's a much bigger effect for countries than for individuals. You know, like if a one point increase on a national test raises your income by 1%. If you get the whole country score up by a point, it'll make the country maybe 5% richer. He's more of the mind up, well, then we need to go and rearrange schools so that, you know, change
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