Thursday, May 20, 2010

Specialization of labor

From the SF Monitor via Carpe Diem Blog


That's the percentage of the world's population with a college degree. Since 1950, the average number of years of schooling for people 15 and older has more than doubled to 7.76, though the gap between richer and poorer countries has held relatively steady, according to a new study by economists at Harvard and the Asian Development Bank. Economic output climbs by about 2 percent for each year the length of schooling grows, the report found.

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