Education economics

If we look at a sorted list of nations with the highest level of secondary schooling we notice these are the richest countries in the world, based on GDP per capita. High rates of education are essential for countries to achieve high levels of economic growth. In theory poor countries should grow faster than rich countries because they can adopt cutting edge technologies already tried and tested by rich countries. But economists argue that if the gap in education between a rich and a poor nation is too large, as is the case between the poorest and the richest nations in the world, the transfer of these technologies that drive economic growth becomes difficult, thus the economies of the world's poorest nations stagnate.