You will find many interesting analysis in the LEO regarding skills, productivity and growth. But let us stress one finding that seems to be a relatively small one, but which means a lot in terms of how learning and growth are perceived.
For many years, the form in which economists looked at skills and learning was basically from the supply side. The focus was on improving education, training, professional and scientific degrees and so on and so forth. Theses aspects of human capital are of course duly recognized in the new LEO. But it also raises a point which has been for many years forgotten – the demand side: the fact that besides the supply of skills there should be a corresponding demand of skills. The positive effects on productivity and growth of the increase of human capital will be to a significant extent dilapidated if the jobs the economy creates do not require such capabilities. And in order to offer better jobs to more skilled people, we need a policy of structural change which should reshape the patterns of employment. The golden rule is that what you produce cannot be separated of what you learn.
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