Education's Impact on Income Growth Revealed: A Game-Changer for Nations
The article discusses the impact of education on income and economic growth. While individual-level studies show that education boosts income, recent research suggests that higher education levels in a country do not always lead to economic growth. This discrepancy is due to errors in measuring education data across countries. When these errors are corrected, the positive effect of education on income growth is significant. Additionally, the assumption that economic growth depends on the initial level of human capital is not always true when considering different models.