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Economies 2018, 6(1), 11;

Adult Learning, Economic Growth and the Distribution of Income

Department of Global Business & Economics, Changwon National University, Changwon 641-773, Korea
School of Accounting & Finance, University of the South Pacific, Suva, Fiji
School of Business, University of the Leicester, Leicester LE1 7RH, UK
Author to whom correspondence should be addressed.
Received: 27 October 2017 / Revised: 11 January 2018 / Accepted: 21 January 2018 / Published: 12 February 2018
(This article belongs to the Special Issue The Role of Education and Health in Economic Development)
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Technological change causes three consequences: it guarantees economic growth, it requires employees to acquire more skills and human capital, and it increases inequality if employees are not capable adapting to new technologies. The second consequence makes it almost necessary for employees to learn during their whole working life, thereby accelerating technological change. Accordingly, the OECD (the Organization for Economic Co-operation and Development) and many governments supports the idea of lifelong learning, but it remains unclear how to finance the education of adult students who are working efficiently. In this paper, we use an overlapping generation model with human capital accumulation and inequality to derive a mechanism which reduces income inequality and provides an incentive for all adults to invest more in education. As a consequence, the growth rate of per capita income will increase and income inequality will be reduced. View Full-Text
Keywords: adult learning; overlapping generations; human capital; progressive taxation; income inequality adult learning; overlapping generations; human capital; progressive taxation; income inequality

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Stauvermann, P.J.; Kumar, R.R. Adult Learning, Economic Growth and the Distribution of Income. Economies 2018, 6, 11.

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