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date: 24 August 2019

Abstract and Keywords

Debates about the need to increase investments in education and training in order to improve overall national economic performance quickly result in deliberations about who should pay for those investments. If it is the individual or the employer who are the principal beneficiaries, then there is an expectation that they should share the cost of the investment proportionate to the benefit they obtain. There are, however, a number of barriers which prevent employers and individuals making optimum levels of investment which inevitably means that the State needs to step into the breach. This chapter addresses what economics has to say about who should make the investment in training and how various barriers to those investments being made can be overcome.

Keywords: economics of training, employers, human capital theory, individuals, returns to training, training investments

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