Suppose human capital doubled but the economic growth rate did not change a bit

 

 

Source: Le, T., Gibson, J., & Oxley, L. (2006). A forward-looking measure of the stock of human capital in New Zealand. Manchester School74(5), updated and with additional analysis by Trinh Le of the 2006 and 2013 census for the Treasury (the 2006 and 2013 analysis is unpublished).

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