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Education quality and economic growth

Eric A. Hanushek
Published Date: 
In Brendan Miniter (ed.)
The 4 percent solution: Unleashing the economic growth America needs
New York: Crown Business
pp. 227-239

Since the recession of 2008, the United Scares has been debating
how ro restore and enhance the health of irs economy. Bur what has
been lost in chis short-run focus on stimulus spending and federal
deficits is the need ro reform the nation's public schools, the engine
behind any long-run growth.

An economy's ability to grow over time-its ability ro innovate and
raise both productivity and real incomes-is strongly tied to the quality
of education provided ro the vast majority of workers. Skills and intellectual
capital are increasingly important in a modern economy, and
schools play a central role in the development of valuable skills.