Boost Education Spending To Improve Productivity

Via
Jerusalem Post

Noting that Israel falls well below OECD countries in worker productivity, economists at Jerusalem’s Van Leer Institute on Sunday urged the government to increase budgetary allocations to improve the country’s much-maligned education system and public sector institutions.

Improving education will raise flagging worker productivity, which a report, issued ahead of tomorrow’s Van Leer Conference on Economics and Society, indicated has grown only 1.1 percent over the past year compared to 1.9% growth in OECD countries.

Between 1980-2005, worker productivity grew only 1.17% compared to 1.94% average growth in Austria, Ireland, the UK, the US, Spain, France and Sweden.

Ireland, noted the Van Leer report, which demonstrated the highest increase of worker productivity over the 25-year period, had the proper balance between macro-economic policy, worker rights, the collaborative agreements between business and government, economic reforms, increase in foreign investments, investments in education and reforms in the public sector.

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