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One thing the author totally overlooked - when you have a large percentage of the population that spends an extra 2-6+ years in education, that same large perce
by danjayh 10y ago
One thing the author totally overlooked - when you have a large percentage of the population that spends an extra 2-6+ years in education, that same large percentage of the population spends 2-6+ less years producing things for people to consume. If those same people aren't more productive as a result of their education, this means that the net productivity of society is lower as a result of the education, while the number of people in the society is the same. End result is that the stuff:people ratio goes down, and poverty naturally increases.
Education has an extremely high cost both in terms of lost productivity and resources consumed to provide it. Misapplied education will throw additional people into poverty, every time. Possibly directly, through onerous student loans, or indirectly by consuming resources that could have been used to produce basic goods for consumption.