I'm no economist--can anyone help me to understand how improving academic achievement would make such a big impact on GDP? I know that an individual's earning potential increases with each diploma and degree, but academic achievement often has little to do with graduation rates or degree attainment.
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20 Oct 10
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29 Aug 09
William FerriterThe Economic Impact of the Achievement Gap in America’s Schools.
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For instance, in the 2006 Program for International Student Assessment that measured the applied learning and problem-solving skills of 15-year-olds in 30 industrialized countries, the U.S. ranked 25th out of the 30 in math and 24th in science. That put our average youth on par with those from Portugal and the Slovak Republic, “rather than with students in countries that are more relevant competitors for service-sector and high-value jobs, like Canada, the Netherlands, Korea, and Australia,” McKinsey noted.
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There are millions of kids who are in modern suburban schools “who don’t realize how far behind they are,” said Matt Miller, one of the authors. “They are being prepared for $12-an-hour jobs — not $40 to $50 an hour.”
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02 Jun 09
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study by the consulting firm McKinsey, entitled “The Economic Impact of the Achievement Gap in America’s Schools.”
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The Economic Impact of the Achievement Gap in America’s Schools.
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There are millions of kids who are in modern suburban schools “who don’t realize how far behind they are,” said Matt Miller, one of the authors. “They are being prepared for $12-an-hour jobs — not $40 to $50 an hour.”
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27 May 09
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30 Apr 09
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26 Apr 09
Jeff JohnsonJust a quick review: In the 1950s and 1960s, the U.S. dominated the world in K-12 education. We also dominated economically. In the 1970s and 1980s, we still had a lead, albeit smaller, in educating our population through secondary school, and America continued to lead the world economically, albeit with other big economies, like China, closing in. Today, we have fallen behind in both per capita high school graduates and their quality. Consequences to follow.
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25 Apr 09
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24 Apr 09
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the longer American children are in school, the worse they perform compared to their international peers
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23 Apr 09
Susan DineenFriedman sums up his findings from a new study by the consulting firm McKinsey, entitled “The Economic Impact of the Achievement Gap in America’s Schools.”
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Helen Mongan-RallisBy THOMAS L. FRIEDMAN
Published: April 21, 2009
Speaking of financial crises and how they can expose weak companies and weak countries, Warren Buffett once famously quipped that “only when the tide goes out do you find out who is not wearing a bathing suit.” So true. But what’s really unnerving is that America appears to be one of those countries that has been swimming buck naked — in more ways than one -
stevenson34A nation in decline educationally. We can't keep up with GDP growth internationally
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schlenzkaMcK study on education gap of US
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22 Apr 09
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Add Sticky NoteThe answer, says McKinsey: If America had closed the international achievement gap between 1983 and 1998 and had raised its performance to the level of such nations as Finland and South Korea, United States G.D.P. in 2008 would have been between $1.3 trillion and $2.3 trillion higher. If we had closed the racial achievement gap and black and Latino student performance had caught up with that of white students by 1998, G.D.P. in 2008 would have been between $310 billion and $525 billion higher. If the gap between low-income students and the rest had been narrowed, G.D.P. in 2008 would have been $400 billion to $670 billion higher.
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Since GDP = consumption + gross investment + government spending + (exports − imports), I can see how improvements in educational achievement can contribute to higher incomes and other increases in economic activity. However, since GDP includes government spending, I am concerned that we spend so much on public education (and get such poor results) that some of the increase in GDP could be attributed to increases in government spending on education. I do recognize that the increases cited in GDP would not come solely from increased government spending on education so I am assuming that most of it would come from increases in economic activity as a result of improvements in educational achievement. Is that a valid assumption?
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that's the thing though. is educational achievement necessarily linear to wages earned? i know in some cases it is directly proportional but i also think there are many cases where it falls off. for technology and engineering it seems linear. but does a masters in literature confer much more power to earn wages than does a bachelors? does the PhD?
and what's all this about competition? i think we're projecting a metaphor of a race or a game wherein we assume that our schools are competing with high school kids in India. We are not, and it is distracting what our true focus of what education should be: to allow children to find and "follow their bliss" as Joseph Campbell would say. If that happens the money in whatever form follows. Bottom-up thinking for sure, but I think teachers should be more concerned with this than competition with foreign lands.
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nspalmerDiscusses the shortcomings of education and alludes to the fact that black and Hispanic students perform at lower levels than white students. See the problem as one of improving American education generally and bringing performance of black and Hispanic students up to parity with that of white students. Doesn't mention Asian students, who as a group out-perform white students. Shouldn't we try to get all students up to their level?
Public Stiky Notes
and what's all this about competition? i think we're projecting a metaphor of a race or a game wherein we assume that our schools are competing with high school kids in India. We are not, and it is distracting what our true focus of what education should be: to allow children to find and "follow their bliss" as Joseph Campbell would say. If that happens the money in whatever form follows. Bottom-up thinking for sure, but I think teachers should be more concerned with this than competition with foreign lands.
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