Education and Economic Growth 6/25/2008 4:51 PM The level of cognitive skills of a nation’s students has a large effect on its subsequent economic growth rate. Increasing the average number of years of schooling attained by the labor force boosts the economy only when increased levels of school attainment also boost cognitive skills. In other words, it is not enough simply to spend more time in school; something has to be learned there.
Written by Eric Hanushek, Dean T. Jamison, Eliot A. Jamison and Ludger Woessmann for the Hoover Institution of Standford University publication "Education Next." |