« 'The Biggest Lie of the New Century' | Main | The Durbin-Schumer Inversion Proposal »

Wednesday, September 10, 2014

'More Education = More Income'

Eduardo Porter:

A Simple Equation: More Education = More Income, by Eduardo Porter, NY Times: ...the gap between the wages of a family of two college graduates and a family of high school graduates..., between 1979 and 2012...,grew by some $30,000, after inflation. This ... amounts to a powerful counterargument to anybody who doubts the importance of education in the battle against the nation’s entrenched inequality.
But in the American education system, inequality is winning, gumming up the mobility that broad-based prosperity requires. ... Only one in 20 Americans aged 25 to 34 whose parents didn’t finish high school has a college degree. The average across 20 rich countries in the O.E.C.D. analysis is almost one in four. ...
Given the payoff, the fact that many of those who would benefit most are not investing in a college education suggests an epic failure. And the growing cadre of countries that outperform the United States suggests failure is hardly inevitable. ...
Mr. Schleicher told me that, while places like Japan, Singapore and Canada have learned how to educate socially disadvantaged children, in the United States social background plays an outsize role in the educational outcomes. ... “But a lot depends on policy. There is a lot we can do.”
Decimating public education is not to anyone’s advantage...

    Posted by on Wednesday, September 10, 2014 at 09:36 AM in Economics, Income Distribution, Universities | Permalink  Comments (19)


    Comments

    Feed You can follow this conversation by subscribing to the comment feed for this post.