Occupational Education as a Source of Economic Growth.

Overview & Synopsis

In determining the contribution of education to economic growth, Denison omitted occupational education because it "would have but little effect." He estimates that education accounted for 23 percent of the 2.93 percentage point rate of growth of national product from 1929-1957 and 12 percent of the 1909-1929 growth. This research has two main objectives: to trace the development of occupational education and to recompute labor productivity by adding in the omitted types of education: adult education, adult vocational education, apprenticeships, correspondence schools, Federal training programs, on-the-job training, private business schools, and special schools. (Author)