November 28, 2010

Wake up

Dr. Kapital posts this from the Pi Project:

It is to be expected of politicians, I suppose, but  talk of austerity that barely addresses the primary problem, while gutting education, will just wreck your country.  I suggest your friends "use their influence" to avoid this outcome.  Talk of shared pain makes no sense when discussing education - it is an investment, not a cost.  Reducing it simply reduces future wealth.  University of Chicago economist Raghuram G. Rajan:
Recent technological advances now require many workers to have a college degree to carry out their tasks. But the supply of college-educated workers has not kept pace with demand—indeed, the fraction of high school graduates in every age cohort has stopped rising, having fallen slightly since the 1970s. Those who are fortunate enough to have bachelor’s and advanced degrees have seen their incomes grow rapidly as the demand for graduates exceeds supply. But those who don’t—seven out of ten Americans, according to the 2008 census—have seen relatively stagnant or even falling incomes.

Education plays a far greater role than simply improving an individual’s income and career prospects: it has intrinsic worth of its own, allowing us to make use of our finer faculties. In addition, studies show that the educated typically take better care of their own health, are less prone to indulging in criminal activities, and are more likely to participate in civic and political activities. Moreover, they influence their children to do the same, so that their education has beneficial effects on future generations also. So as it falls behind in education, America is diminishing the quality of its society.

All the talk in politics is about "wake-up calls".  But there will be no "wake-up call" in education.  The country will just get dumber and poorer.  This organization should be listened to, preferably before you elect any more entertainment industry figures to run your state.

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