For decades, the idea that more education will lead to greater individual and national prosperity has been a cornerstone of developed economies. Indeed, it is almost universally believed that college diplomas give Americans and Europeans a competitive advantage in the global knowledge wars....

For decades, the idea that more education will lead to greater individual and national prosperity has been a cornerstone of developed economies. Challenging this conventional wisdom, The Global Auction forces us to reconsider our deeply held and mistaken views about how the global economy really...