Latest / The Productivity Podcast with Fexingo: Output, Efficiency, and Long-Term Economic Growth
How Finland Turned Education into a Productivity Engine
Lucas and Luna examine Finland's education system as a long-term productivity strategy. Since the 1970s, Finland shifted from resource-based to knowledge-based growth, with education reforms yielding a 2.5 percent annual productivity gain for decades. Lucas breaks down the key policy: teacher autonomy, no standardized tests until age 16, and investment in R&D. Luna challenges whether this model can scale globally. Specific data: Finland's GDP per capita grew from 75 percent of OECD average in 1990 to 110 percent by 2010. A concrete lesson for policymakers and business leaders alike…
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