emerge. First, minor differences in education technologies, preferences, or wealth, can lead to a high degree of … inequality in education and income more persistent across generations. Whether the same is true of inequality in total wealth … richer communities; thus average academic performance and income growth both fall. Yet it may still be possible for education …

and general education, with a superior social status attached to general. The resulting dynamic political equilibrium is … best summarized by the ratio of vocational to general education, which we interpret as a measure of the degree of … vocational education at the expense of general. …

Estimates of the effect of education on GDP (the social return to education) have been hard to reconcile with micro … human capital is negatively related to its return, and a higher education level compresses wage differentials. We use cross … that the private return falls by 1.5 percentage points when the average education level increases by a year, which is …

“cutthroat”capitalism that generates greater inequality and more innovation and will become the technology leaders, while others …

distorts occupational choice. We study this possibility in the context of a model with horizontal innovation, where the …