(photo credit: Goldman Sachs)
Goldman Sachs recently released a report on the outsized economic contributions of Asian Americans. Highlights include Asian Americans creating 19% of high impact patents between 2003 and 2019, and driving 23% of US economic growth during that period despite being around 10% of the population. Lowlights include income inequality with the Asian American category and the bamboo ceiling. When I read this, I thought of University of Pennsylvania Professor Amy Wax, who asserts that America is better off with less Asian immigration. Seems like just the opposite, given this data.
I was surprised by the patent statistics. While I do work in tech and have generated patents myself and know other Asian Americans who do the same, it never seemed that there was an outsized number compared to general population. Then again, it could just be my personal perceptions, the impact factor of the patents, and my company versus the overall average.
There are many other interesting details in the report, such as what kind Asian Americans are promoted more frequently to head roles and the situations where that happens. You can read the full report here.
(h/t: cl)
