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Higher education is not just a signal of innate ability. At least a certain level of educational achievement (degree level, degree mark) is strictly required to perform a graduate job. School leavers fall into two categories, the rich and the poor. Ability is distributed in the same way in both...
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This paper studies how an institution such as markets affects the evolution of mankind. My key point is that the forces … of natural selection are made weaker because trade allows people to specialize in those activities where they are strong …, and to offset their weaknesses by purchasing adequate goods on the market. Absent trade, people must allocate their time …
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