The Labour Theory of Value

The labour theory of value may have first been written about by early economists like Adam Smith and David Ricardo but it was made famous by Karl Marx who really liked labour. More educated populations make the wealthier economies so over-educating just isn't ever going to be a problem according to this theory. The importance of labour is why the Soviet Union for all its flaws had a very well educated population that we're able to keep up with or in many cases exceed scientists and engineers from the west. Just giving a person endless education does not necessarily guarantee that they're going to create new technologies to boost the global economy.