Saturday, June 27, 2009

Why learn how to invent?

Economist Kevin Murphy:

If we look beyond education, we see an increase in the skill premium generally, the gap in wages between skilled workers and unskilled workers, whether highly skilled high school graduates compared to less-skilled high school graduates, or highly skilled college graduates compared to less-skilled college graduates, those differences have gone up as well. So the return to being more skilled today is higher than ever.

What can we do as individuals, and what can we do as a society? The answer is obvious: Invest more in skills, and doing so will provide benefits for individuals and for society as a whole. That’s the opportunity that’s become available.


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