Artikel

Adult learning, economic growth and the distribution of income

Technological change causes three consequences: it guarantees economic growth, it requires employees to acquire more skills and human capital, and it increases inequality if employees are not capable adapting to new technologies. The second consequence makes it almost necessary for employees to learn during their whole working life, thereby accelerating technological change. Accordingly, the OECD (the Organization for Economic Co-operation and Development) and many governments supports the idea of lifelong learning, but it remains unclear how to finance the education of adult students who are working efficiently. In this paper, we use an overlapping generation model with human capital accumulation and inequality to derive a mechanism which reduces income inequality and provides an incentive for all adults to invest more in education. As a consequence, the growth rate of per capita income will increase and income inequality will be reduced.

Language
Englisch

Bibliographic citation
Journal: Economies ; ISSN: 2227-7099 ; Volume: 6 ; Year: 2018 ; Issue: 1 ; Pages: 1-12 ; Basel: MDPI

Classification
Wirtschaft
One, Two, and Multisector Growth Models
Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Personal Income, Wealth, and Their Distributions
Education and Inequality
Human Capital; Skills; Occupational Choice; Labor Productivity
Subject
adult learning
overlapping generations
human capital
progressive taxation
income inequality

Event
Geistige Schöpfung
(who)
Stauvermann, Peter J.
Kumar, Ronald R.
Event
Veröffentlichung
(who)
MDPI
(where)
Basel
(when)
2018

DOI
doi:10.3390/economies6010011
Handle
Last update
20.09.2024, 8:22 AM CEST

Data provider

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Object type

  • Artikel

Associated

  • Stauvermann, Peter J.
  • Kumar, Ronald R.
  • MDPI

Time of origin

  • 2018

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