What are the incentives for societies to invest in education?
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The economic benefits of education flow not just to individuals but also to governments through additional tax receipts when people enter the labour market. These public returns, which take into account the fact that providing education is also a cost to governments, offer an additional perspective on the overall returns to education. Of course, they must also be understood in the much wider context of the benefits that economies and societies gain from increasing levels of education.
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