RIO DE JANEIRO, BRAZIL - The year 2278 will be historic for Brazil. It will be this year that, according to the PISA, the international learning evaluation program, Brazilian students will reach the same level of proficiency in reading as students from wealthy countries. Luckily, in 2093, also according to PISA, it will reach the same level of math skills.
Despite what it may seem, the notion that education is a significant factor in explaining a country's income or inequality, is not that old. In fact, Jacob Mincer, a Polish economist, wrote his best known work called "Schooling, Experience, and . . .