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Education Policies, Economic Growth and Wage Inequality

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  • Rehme, Günther

Abstract

It is assumed that education simultaneously affects growth and wage inequality. Human capital is taken as lumpy, and education policy has a direct bearing on growth, the number of high-skilled people, and wages. It is shown that the optimal policy for the unskilled is Rawlsian and implies high after-tax returns on capital and high growth, whereas the skilled prefer an anti-Rawlsian policy with less education, lower growth, and more wage inequality. In contrast, a strictly utilitarian government chooses more education and less inequality than the Rawlsian. Thus, the unskilled prefer a more efficient and more equitable outcome than the skilled, and a strictly utilitarian policy may be more egalitarian than a Rawlsian policy.
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Suggested Citation

  • Rehme, Günther, 2003. "Education Policies, Economic Growth and Wage Inequality," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 43463, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    • Handle: RePEc:dar:wpaper:43463
    Note: for complete metadata visit http://tubiblio.ulb.tu-darmstadt.de/43463/
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    Cited by:

    1. Zilun Zhi & Fangyi Zhao, 2021. "Route study on patterns of poverty alleviation through vocational education under the background of rural vitalization," Poverty & Public Policy, John Wiley & Sons, vol. 13(1), pages 69-92, March.
    2. Günther Rehme, 2008. "Roemer, J. E.: Democracy, Education, and Equality," Journal of Economics, Springer, vol. 93(1), pages 95-100, February.
    3. Toshiki Tamai, 2015. "Redistributive taxation, wealth distribution, and economic growth," Journal of Economics, Springer, vol. 115(2), pages 133-152, June.

    More about this item

    JEL classification:

    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • I2 - Health, Education, and Welfare - - Education
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • D3 - Microeconomics - - Distribution
    • D6 - Microeconomics - - Welfare Economics

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