Wednesday, October 28, 2009

Benefits of Education and Specialization

Some posts in Economix about the above topic


1. Correlation of a country's educational investment and GDP. The higher investment in education the greater the economic growth. Typically an extra year of schooling increases earnings from 6 to 14 percent.

2. Specialization brings more income and productivity to a person.
The advantages and disadvantages of specialization in the adult world are readily seen in the medical field. Research has shown, and pay scales confirm, that highly specialized medical doctors are more productive – make better diagnoses and fewer mistakes – than do general internists and general practitioners.

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