Education and economic growth

MaxManus

Everyone knows that education is important for economic growth, but does anyone have any ideas how much the government should use to rise the knowledge level(not necessary in dollars but maybe in how much free/cheep education) and if there are educations they should encourage more than others?

EntropicLove

Increasing the net amount of human capital in a society (ie educational/skill levels) is different than the level of efficiency of an educational system on that same nation. Many systems can be just as effective with a lower cost.

It is also important to point out that just as educational system can spread oppurtunity, it can also segregate it and favor certain groups over others.

Pyrrhus

There are MANY MANY papers and books written on the links between education and economic growth. In economics, it is referred as technical efficiency. It is an important point of research in Macroeconomics.

You can start by reading "Education and Economic Growth" by Philip Stevens and Martin Weale

edpell

It is an interesting question. At what point do we reach diminishing returns?

What to teach is also an interesting question. Does art history education make the country richer? Does math education? At what rates? Which gives a higher rate of return?

WhoWee

Perhaps the best place to start is the relationship between education and unemployment (currently) in the US?

RandomMystery

On the what to teach, shouldn't practical things such as cooking, car mechanics, and personal accounting be required for a GED?

Specially since these skills don't require high levels of abstract thinking and can be learned through apprenticeship, the skills can be more easy for younger students to in digest. (or I am I wrong?)

Diminishing returns especially happen when, for example, a woman chooses to major in a state college (with state scholarships) only to choose to live off her husband upon completion of the degree. Of course she may have some extra-knowledge, but in the end that money seems to be wasted, unless some scholarship policy demands here to work a minimum amount in her field to offset the scholarship cost.

Evo

Oh, I wasn't aware that women live off of their husbands. Women are such low lifes, I'm amazed that we let them go to college at all since they're just going to live off men. Of course men are never house husbands, no. Are you serious?

WhoWee

If that same woman enhances the education (and moral compass) of her children - there is an absolute value to society that should not be diminished - IMO.

WhoWee

Evo,

You know I consider myself a good and solid salesman - but for the life of me I can't convince my wife to let me stay at home and support me - how does that work? Maybe you can talk to her for me???

Evo

Sigh, I always made more than the men in my life. I made a nice 6 figure income with incredible benefits and perks. When I divorced, both times, I had to pay spousal support. My second husband did finally go on to be rich, but I paid for his Ivy League education, paid off all of his debt, and supported us while he was working his way up the corporate ladder. I bought our house, I bought him cars, I bought everything.

WhoWee

Thanks for sharing Evo! Now - let's all be more respectful of women - please?

Btw - I am now not only married but have 3 daughters - PLEASE be respectful as requested.

russ_watters

He didn't say all women, Evo, but it does happen. I went to high school with a girl who openly acknowledged that that was her primary reason for going to college.

Regardless, the problem of people going to college for reasons other than to prepare for a career is much broader than that.

russ_watters

What makes you think she wont just raise sexist, 1950s children?

RandomMystery

Sorry, I didn't mean to make anyone mad. It could have easily been a man who lives of his wife, I just stated the traditional scenario.

"If that same woman enhances the education (and moral compass) of her children - there is an absolute value to society that should not be diminished - IMO."

Your right, but it's heard to measure how much a college degree enhances the education and moral compass of her children (if it enhances does at all or even decrease these attributes).

Of course everyone would be better off with a college degree, but if the purpose of the man or woman is to raise children, then I would assume that only degrees that go toward understanding and raising children would be helpful.

Thanks for having my back russ watters

skilgannonau

That’s a straw man defence. A point sample to support RandomMystery implicit assertion doesn’t make the statement any less defamatory. Of all the possible examples RandomMystery could use to support his point he choose one which blatantly cast unsupported aspersions about women. The fact he qualifies his statement as an ‘example’ is no defence since the aspersion being made about women in general is clear.

Even if RandomMystery isn’t sexist why use an example clearly slanderous towards women in a public forum. Any social awareness and common sense would caution against writing something people would clearly find offensive.

RandomMystery

Okay, is there a better way of stating my example? Is this okay:

Diminishing returns especially happen when, for example, a man chooses to major in a state college (with state scholarships) only to choose to live off his wife upon completion of the degree. Of course he may have some extra-knowledge, but in the end that money seems to be wasted, unless some scholarship policy demands him to work a minimum amount in his field to offset the scholarship cost.

WhoWee

Please clarify a bit - do you consider the degree or the focus of training to be unrealistic when compared to the job market?

I've posted in other threads that a 4 year degree might not be a one size fits all - especially if they under-performed in high school and need to spend a year (on Government subsidy) doing make-up work. IMO - some folks should be encouraged to enroll in a 2 year trades programs. We will always need plumbers, electricians, HVAC repair, motor repair, etc.