It's interesting that in rich Asian countries like Japan, Korea, Singapore, the stereotype is of Tiger Moms whose parenting attitude is the polar opposite of what you describe.
Perhaps taking a hands-off approach is more likely to result in well-adjusted, independent children AND children who learn and earn less.
First, the whole "tiger mom" thing is not universal. And more to the point, does not mean the sort of constant monitoring like in the US. In Korea and Japan (don't know about Singapore), independence in young children is highly valued. Many grade schools in Japan, for example, require that children go to school on their own. At six years old, they walk, take the subway, etc. Parents routinely send six, seven or eight year olds out alone on errands.
Perhaps taking a hands-off approach is more likely to result in well-adjusted, independent children AND children who learn and earn less.