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>> Can we honestly say that our accelerating funding of education in this country has been the key to prosperity? > Yes, yes we can. No, we can't. Where Has

>> Can we honestly say that our accelerating funding of education in this country has been the key to prosperity? > Yes, yes we can. No, we can't. Where Has All the Education Gone? Cross-national data show no association between increases in human capital attributable to the rising educational attainment of the labor force and the rate of growth of output per worker. This implies that the association of educational capital growth with conventional measures of total factor production is large, strongly statistically significant, and negative. https://openknowledge.worldbank.org/bitstream/handle/10986/17434/773740JRN020010l0the0Education0Gone.pdf?sequence=1&isAllowed=y https://openknowledge.worldbank.org/bitstream/handle/10986/1...

xwolfi 5y ago
As an anti-american I d love if you were right, but the US is still overweight in many things we would like to take over and I learned latin at school, speak two languages fluently, work in an investment bank in Hong Kong and I STILL see friends jumping to emigrate there... When will this fail finally :( Are you sure it's THAT bad ? Should we really continue resisting the US education model that seems to create an endless stream of indebted compliant morons rather than the non productive philosophers we build everywhere else ?
notahacker 5y ago
From the conclusion "None of the arguments in this article suggest that governments should invest less in basic schooling, for many reasons" The main part of the article deals with the fact that microeconomic data strongly supports returns to educational yet cross sectional comparisoms of countries don't. The author prefers structural differences to labour forces meaning some countries make better use of their educated workforce to signalling arguments. It's going to take stronger evidence from a paper making stronger claims than that to convince people that the US would be the same place if educational investment was at the pre public education level when most kids didn't learn to read or perform basic arithmetic.
mavhc 5y ago
The modern world wasn't built on geniuses with no education. Even if 90% of people don't benefit, 10% do, invent new stuff, and the 90% benefit from that. Also you have to factor in competition, if you don't educate your population another country will and leave you with the low paying jobs. We should be educating people their entire lives, 1 day a week at school to learn things that were invented after you left school.

xwolfi 5y ago

As an anti-american I d love if you were right, but the US is still overweight in many things we would like to take over and I learned latin at school, speak two languages fluently, work in an investment bank in Hong Kong and I STILL see friends jumping to emigrate there... When will this fail finally :( Are you sure it's THAT bad ? Should we really continue resisting the US education model that seems to create an endless stream of indebted compliant morons rather than the non productive philosophers we build everywhere else ?

notahacker 5y ago

From the conclusion "None of the arguments in this article suggest that governments should invest less in basic schooling, for many reasons" The main part of the article deals with the fact that microeconomic data strongly supports returns to educational yet cross sectional comparisoms of countries don't. The author prefers structural differences to labour forces meaning some countries make better use of their educated workforce to signalling arguments. It's going to take stronger evidence from a paper making stronger claims than that to convince people that the US would be the same place if educational investment was at the pre public education level when most kids didn't learn to read or perform basic arithmetic.

mavhc 5y ago

The modern world wasn't built on geniuses with no education. Even if 90% of people don't benefit, 10% do, invent new stuff, and the 90% benefit from that. Also you have to factor in competition, if you don't educate your population another country will and leave you with the low paying jobs. We should be educating people their entire lives, 1 day a week at school to learn things that were invented after you left school.