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Is education system and economic growth directly proportional?

I stumbled upon an article on "Education system not picking up" by Dr. Nungsari Ahmad Radhi, an economist and ex-MP, which appeared in TheEdge (September 12 – September 18, 2005).

"The ‘dumbing down’ of higher education produces neither technical competency nor entrepreneurial behaviour," he said.

Excerpt:
"Malaysia [...] is endowed with decent though not excellent human capital, sizeable [...]

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