Remember, this is very much not saying that higher education is not a good thing for the individual. It is a wonderful thing, but it is one of the rewards of economic growth, not one of the drivers. And obviously a total lack of education would be catastrophic for a modern economy; but that’s not the same as saying that the best way to improve the economy is to spend more on education. Education is not a skyhook from which to hang economic policy; it is an emergent phenomenon.
