J. T. Young
Investors.com
1/24/2012
America’s problem is not an income gap, but an education gap. The latter creates the former.
The solution should not be redistributing America’s wealth, but reforming its education system.
As Nobel economist Gary Becker has pointed out: “There has been a general trend toward rising gaps between the earnings of more and less skilled persons,” due mainly to demand for skilled workers in high technology.
The connection between earnings and education is unmistakable, yet overlooked in America’s current public policy debates…
…Lack of education’s effects are stark. No high school diploma means less likelihood of finding any job. Once obtained, the job is likely to pay less and deliver fewer job skills. The job is also more likely to be lost. Together this equals a lower income trajectory.
It also tends to continue the cycle: students from low-income families annually dropout at an 8.7% rate versus just 2% from high-income families.
This is tragic. And it’s centered in minority communities…
The complete article is at Investors.com
H/T Hump Day Report: Pro Choice!
Did you know it’s National School Choice Week? January 23-29 marks a time to reflect on the state of our educational system and how to make it better. But it seems powerful teacher’s unions and politics are getting in the way of educational priorities for our kids…
