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On a macro level over the long run I find that hard to swallow. Economic development is essentially "learning to do more with less". Economic growth IS learning.

Paleolithic humans had all the basic resources we have today, except they lacked our education.

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Education seems to be just one cog in the overall scheme of a functioning, productive society. Without well managed public and private sectors in place to take advantage of an educated, skilled workforce and economic policies which truly benefit the developing country, the likely outcome will be large scale brain-drain.

I see what you mean. Without the rule of law, effective policing, healthcare, transportation networks, etc, investment in education meets resistance to use. The best Intel engineer can't make microchips if sent back to a Paleolithic beach. She's still missing civilization.

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