In the absence of entrepreneurial capitalism, education does very little to improve the conditions of Africans. What this article fails to note is the role that excessive regulation plays in keeping Africa poor. It is, however, clear on the need for industrialization (which would likely follow from improved market institutions): If the high return to primary education found in South Africa’s sectoral data is due to its industrial structure then the picture with which we began of many schools and very few factories is indeed a problem. Without the factories the dramatic increase in the primary educated work force will indeed see little economic gain from their education.
Posted on: Fri, 01 Aug 2014 00:20:58 +0000
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