AI Snips
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Education Shapes Economic Outcomes
- Education strongly determines economic success at individual and national levels.
- But too much education can be costly and may stop returning positive economic results.
Labour Value Grows With Education
- The labour theory of value links a worker's value to the labour invested in their education and capital.
- Higher education steps typically make labour more valuable but not indefinitely so.
Supply Chains Concentrate Value
- Global tech supply chains concentrate value in economies that build and design products.
- The USA and South Korea benefit most because they supplied the educated workforce to create high-value products.