JIM O'NEILL: The World Should Copy Everything South Korea Does Except For One Thing

Seoul south koreaSeoul, South Korea

Photo: flickr/mariosp

Jim O’Neill, Chairman of Goldman Sachs Asset Management, recently spoke to Business Insider and described South Korea as “the model for everybody to aspire to.”In his latest Viewpoints note, O’Neill reiterates this sentiment:

On many occasions this year, I have mentioned that due to its very high scores on measures of productivity and sustainable growth, we could all learn plenty from South Korea. It ranks fourth out of 183 countries on Goldman Sachs’ Growth Environment Score. I often suggest to policymakers from each of the BRIC and N11 economies that they should study Korea closely, and adopt the better of things that appear to be responsible for Korea’s ranking especially since they are at an income level close to that of the G7 countries. I mentioned this idea at two separate educational events this week. One was a private meeting with the CEO of Teach for All, Wendy Kopp. The other was a conference of economics teachers here in London. It was pointed out to me by Wendy, partly in agreement, that one of the reasons why Koreans seem to be so well educated is that a large number of them spend hours in additional educational activities in the evenings (often paid for privately)…

However, there is one thing that South Korea is know for that the world may not want to copy.

A delegate at the conference suggested to me that Korea has a rather high suicide rate and it wasn’t obvious one should copy everything they do. I found that hard to disagree with…

One wonders, however, if it’s a package deal.

SEE ALSO: Jim O’Neill Wants Everyone At Goldman To See These 7 Charts >

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