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• W1680601942 abstract "This paper studies the role of education as a way of reducing private rent seekingactivities and increasing output. In many underdeveloped economies, for mostindividuals, there is no private return to education. Nonetheless, according to thispaper, governments are better off by investing in public education. We view educationas a means to build personal character, thereby affecting macroeconomic long runequilibrium by reducing the number of individuals who are engaged in private rentseekingactivities. We show that education is more efficient than ordinary lawenforcement because it has a long-run effect. The policy implication of this result isthat even when education does not increase human capital, compulsory schooling willbe beneficial in pulling underdeveloped economies out of poverty." @default.
• W1680601942 created "2016-06-24" @default.
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• W1680601942 date "2009-10-31" @default.
• W1680601942 modified "2023-09-27" @default.
• W1680601942 title "Education, Rent Seeking and Growth" @default.
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• W1680601942 hasPublicationYear "2009" @default.
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