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This link has been bookmarked by 22 people . It was first bookmarked on 22 Apr 2009, by timothy589.
weak education in US and economic growth consequences
Just 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.
Friedman 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.”
By 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
A nation in decline educationally. We can't keep up with GDP growth internationally
McK study on education gap of US
Sean McClung on 2009-04-22
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.
Thomas Ho on 2009-04-24
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?
Brandon Brown on 2009-05-14
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.
Discusses 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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