There are economists who argue strongly that cognitive and economic development are linked. But they recognize that classrooms are not the only, and possibly not even the most important influences that affect this relationship.

For example, Hanushek & Woessmann comment,

Overall economic institutions … can be viewed as preconditions to economic development. And, without them, education and skills may not have the desired impact on economic outcomes . (Eric A.Hanushek and Ludger Woessmann, “The Role of Cognitive Skills in Economic Development” Journal of Economic Literature 2008, 46.3, 609)

Even within the school there are procedures and structures outside the classroom that stultify student cognitive development or render it impotent. The presentation below illustrates some of these and shows how tenuously schooling factors influence student "economic returns on investment."