One joy of studying history is discovering people living meaningful lives and behaving in unusual ways that are startling to the modern reader--young or old. Why did pre-modern people living hundreds or even thousands of years ago do things so differently than we do? Robert Whaples states that Economic historians conclude that the key difference…

In this article, we investigate a positive tertiary education externality in 18 European countries. Using a simple Cobb-Douglas-type production function with constant returns to scale, we find that there are positive spillover effects from tertiary education in European countries. According to our model prediction, on average, 72,000 new employed…