For Long Term Economic Development, Only Skills Matter

Eric A. Hanushek
Published Date
IZA World of Labor
,A country’s development depends on its economic growth, and countries that foster high levels of skills in their population will thrive in the long term. The gains in GDP related to skill improvements lead to substantial gains in GDP per capita, which can be used to finance other objectives, such as those found in the UN’s Sustainable Development Goals. Analysis shows that there are enormous potential economic gains from improving the quality of schools. This finding justifies substantial schooling reforms.