The Importance of Grades and the New Economy

To paraphrase Thomas Friedman, author of The World Is Flat who paraphrased Bill Gates:

Twenty years ago, from a purely career-financial perspective, if you had the choice of being a “B” student from Brooklyn or an “A” student from Bombay, you would choose the former because America’s economic domination was so thorough that opportunities were abundant for even our average students.

Today, however, many would choose to be the “A” stu...