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NYT Economix: Education Last Century, and Economic Growth Today
Not entirely sure what to make of this high correlation between education a century ago and GDP today, but it is a fascinating graph.
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Despite the ever-present correlation/causation problem, the implications seem obvious.
Posted by: Travis Greene | Oct 21, 2009 at 02:23 PM
Right - Does education cause higher GDP (proxy for wealth) or does wealth induce higher education?
By taking education 100 years ago, you circumvent the problem because nobody can argue that GDP today is at all causal of education 100 years ago. 100 years is a bit extreme, but since both variables are highly persistent (they don't change much through time) you need a big distance to get distance.
Posted by: Jesse | Oct 22, 2009 at 06:31 PM