A good analysis based on Schumpetarian endogenous growth theory.
By Fabio Manca.
The role played by human capital and skills in fostering economic growth and technological progress has been the focus of a large strand of economic literature for decades. That said, at the beginning of the century, economists were still struggling to clearly pin down the contribution of human capital on the economic growth of a large sample of countries.
In 2001, for instance, Lant Pritchett was still wondering: “Where has all the education gone?” when referring to the weak and sometimes contradictory macroeconomic empirical evidence of a large collection of panel studies on education and growth.
Partly as a reaction to such puzzling ‘absence-of-results’, more recent empirical literature (Acemoglu et al. (2006), Vandenbussche et al. (2006), Aghion et al. (2009) or Papakostantinou (2014)) argued that the composition of a country’s human capital (e.g. the share of skilled over unskilled workers) rather than average measures of…
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Utopia, you are standing in it! 
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