In studies of countries, hundreds of variables have been tried. People have had all kinds of ideas of what determines economic success. The two general variables that turn out to be important are human capital and the type of economic system. The significant role of human capital in the economy means that policies toward education, health, and other investments are important partly for their implications about economic prosperity, economic growth, and income inequality. I would like to make a few points on education policy before closing.
Persons generally go to school in the neighborhoods where they live or in larger geographic units.
Curricula and other programs are determined politically. There is no need for schools to compete for students by offering better programs or through tuition charges since the supply of students to a school is largely given. When these parents are dissatisfied with public schools, they may have means to enroll their children in private schools. Or they can move to communities with public schools more to their liking. Indeed, suburban communities in many developed countries compete for residents partly through the quality of their public schools.