Economics Explained Are We Overeducated? Economics Explained Interview with Prof. Billari (Bocconi University)
Jul 4, 2023
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Overeducation vs Skills Mismatch
- Generally, economies are not over-educated, but skill mismatches exist between fields.
- Countries may be over-educated in traditional subjects and under-educated in emerging fields like AI and data.
Brain Drain and Talent Retention
- Migration of highly educated individuals causes brain drain in sending countries like Italy.
- Countries must create environments attractive enough to retain educated talent and foster opportunities.
Invest in Both Education and Infrastructure
- Policymakers should invest in both education and infrastructure for long-term benefits.
- Investment in education often reflects political incentives, such as jobs for teachers, rather than long-term educational quality.