In an OECD study of the reading, maths and science attainments of 15-year-olds (The race is not always to the richest) :
Finland came top for all-round excellence, followed by South Korea and Hong Kong.
The USA's performance was poor by world standards.
Factors that led to good results:
1. Letting schools run themselves.
Letting school principals decide whom to hire.
2. High-quality teachers drawn from the top ranks of graduates.
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