Eric Hanushek on the Basic Skills Gap

<p>Economic growth depends on several factors, but a new study (forthcoming) by Eric Hanushek and Ludger Woessmann shows nothing is more important for development than equitable education. Hanushek is a senior fellow at the Hoover Institution at Stanford University, and in this podcast, he says skill differences account for three-quarters of cross-country variations in long-term growth. Hanushek also says the global skills deficit is immense, with two-thirds or more of the world’s youth never reaching even basic skill levels. Hanushek and Woessmann are coauthors of <em>The Basic Skills Gap</em> published in Finance and Development where they say reaching the goal of global universal basic skills would raise future world GDP by $700 trillion over the remainder of the century.</p> <p><em style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> <a href= "http://traffic.libsyn.com/imfpodcast/Eric_Hanushek-transcript-IMF_Podcast.pdf"> Transcript</a></em><span style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">: https://bit.ly/3AqSxCE</span></p> <p>Read the article at IMF.org/fandd</p>