Introduction
There are so many headlines that cover the impact of our economy through education. It appears as if education will pay for itself and boost our overall economy in the process. The education system has been broken for decades and although technology is on the rise, which means some of our population is still achieving at a high academic rate. Many would say that we are failing our children from lack of parental involvement in schools. There are arguments stating that these schools are too dangerous for anybody in the right mind to volunteer inside, and we are losing business, teachers, social clubs and everything else that benefitted those that came before us. If these articles are correct, there is a correlation between schools, local businesses, and construction. Basic in a nutshell, we must educate our youth and offer them ways to attend higher education even beyond high school. In the paper I will discuss the affect economy has on education, the key to building a strong economy, and why it’s not just a matter of money.
“The affect economy has on education” (Alleyne, 2015)
A sluggish economy has a domino effect followed by ripples, which extends to every aspect of American life to include secondary and higher education. When states lose income, they make cuts to government spending and programs. Often the first cuts are in education. Which results in lower teacher salaries and reduced hiring and retention. A loss of funding for various educational programs
Document C is a speech made by a young African-American boy who is first in his class, during 1819, in New York City. He explains that even since he is genius he will have no future because of the color of his skin. According to Document C Note, it states, “ However, this was an improvement over the South where public schooling for white and free blacks was very limited, and where educating slaves was generally illegal.” Document C Note shows that black children in the North were given an opportunity at education allowing them to learn legally for the first time, while white boys in the South still could not go to school. Before the Civil War, many Northern schools for black children were segregated, but this was an improvement over the South
In the article “Bring on the Elites!”, Joel Stein shares the widespread view that education is essential to future success. Based on this view, some perceive the population growth in America and resulting increase in the number of students attending public school as positive, since the benefits of education now extend to more people. However, this trend points to a pressing problem in the education system. Without funding for sufficient facilities or teachers to accommodate additional students, administrators repeatedly push schools past capacity to the detriment of both students and staff. In economic terms, there is excess demand in comparison to supply, resulting in disequilibrium for the consumers. The current system is turning education into a commodity meant for mass production.
Education is the foundation of a person’s success and way of life. Graduating from school is important not only for an individual, but it helps the local and national economy. A study by the Alliance for Excellent Education shows that with higher graduation rates among high school students, the economies of cities, states, and of the country would increase (Rollins). Compared to the rest of the world, the United States spends a large amount of money on education (U.S. Education). While many may think this sufficient, Professor Bruce Baker discusses the correlation between supporting schools with federal funding and the success of students, “When schools have more money, they have greater opportunity to spend productively. When they don’t, they can’t” (ii, Baker). If students are to graduate and contribute to the boost of economies, education must be the forefront of federal funding.
The low pay for our educators is causing many negative effects. New York Times shows that the low income is causing sixty-two percent of teachers to have a second job outside of their teaching jobs. Just to have enough money to support their families and make ends meet. Most everyone decides to college to prevent having these struggles with money, and to avoid having to work multiple jobs, when they get older; however, not when it comes to living off of only a teacher’s income, the struggles to have enough money are interminable. This low pay is also causing most teachers to retire, and find new jobs. New York Times states, “every year 20 percent of teachers in urban districts quit. Nationwide, 46 percent of teachers quit before their fifth year. The turnover costs the
With many in government and communities believing that education is the key to create a strong and independent country, public schools were formed in the early years of the United States to provide a basic education for citizens (Mondale & Patton, 2001). Over the years it has been reformed to fill the needs of a growing nation. However, we are now facing a need to not only satisfy the needs of a national economy, but a world economy. Unable to fill positions that demand a high education, many American industries have to branch out to other countries in search for employees (Guggenheim, 2010). Unless America is able to raise the education standards of students, this trend of companies hiring from outside the United States will continue and more Americans will struggle to find their place in society.
In the time of the industrial boom, factories needed masses of employees to work the assembly lines. In today’s world of mechanization and technology, this need has decreased. Friedman explains, “…as the world has flattened out, those mass-production jobs are increasingly being automated or outsourced. There are fewer and fewer decent jobs for those without a lot of knowledge” (463). The students must be better educated in order to compete in today’s economy and work force. If they are not better educated, Tucker says the only solution is “driving down their wages” (Friedman 463). By driving down wages, the workers earn less money; with less money to spend, the workers don’t buy as much and don’t pump as much money into the economy. Furthermore, the government may need to provide financial support to these workers, essentially losing money. The loss of money and unused human capital creates and sustains a
Economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth. In the readings Why College Shower Their Students with As, Staples and The Sanctuary of Schools, Barry we learn how economics influence educational environments. Staples argue the inflation of grades and how they will affect the value of diplomas. Barry’s argument is based on the lack of finance given to public schools. Barry states that the “people who live in this country believe that cutting the budgets for public schools is necessary.” Giving teacher poor salaries is all that is manageable, and that all fine art programs should be cut when times are lean. Along with the cancelation of before and after school programs, public schools
With many in government and communities believing that education is the key to create a strong and independent country, public schools were formed in the early years of the United States to provide a basic education for citizens. Over the years it has been reformed to fill the needs of a growing nation. However, we are now facing a need to not only satisfy the needs of a national economy, but a world economy. Unable to fill positions that demand a high education, many American industries have to branch out to other countries in search for employees. Unless America is able to raise the education
The job market is evolving, causing college to be essential to anyone that wants to pursue a job. In a 2012 speech, President Barack Obama said that “right now, the unemployment rate for Americans with a college degree or more is about half the national average” (Lemann). This shows that even with a college degree, the job market is changing, causing many students to be unemployed.Yet at the same time, people that have a college education are better off than those without one. Moreover, the current job market is becoming more information based, which requires more literacy, math skills and critical thinking. Since the United States is not fully prepared with an education system that only requires kindergarten through 12th grade, the United States must outsource jobs overseas to have necessary tasks be completed. This not only takes
In “A Matter of Degrees” columnist Clive Crook begins by explaining how many Americans believe that education is the cure-all solution to the nation’s economic issues, but offer no rational explanation as to how more education would actually benefit society. Not everyone agrees on how the improvement of education would interact with society economically, but no matter where someone’s political opinions lay, it is generally agreed upon that education somehow plays a role in the economy. Crook declares that the relationship between education and economics is not as it seems, and it would be a mistake to make educational decisions based solely on economic grounds.
It’s no secret that the economy has not been the best in the past five or so years, and a lot of schools have taken the hardest hit from that. Public schools have had to cut many different programs and areas of study because it is simply just too expensive to teach all of them and provide the correct materials for the students. This is causing the quality of students education to go down, and they aren’t receiving all of the benefits that they should be. The education that a student receives starting in elementary school and all the way up into high schools sets them up for how they will do in college, and that will determine how they are going to live the rest of their lives.
Though many people have been questioning whether education is a wise investment, research has shown that the benefits of education still outweigh the costs. Different education levels have different returns in terms of investment. Despite the rate of college-educated workers rate of unemployment remaining low, they are struggling to fit in the job market. What amounts to uncertainty in the benefit of college education is the struggle that comes in paying education loan debts and the rising cost of education. With the return on investment in education remaining at 15%, most people would argue that is not a sound investment. Those with less education struggle more especially in the past decade.
For the 2013-2014 school year, at least 34 states are providing less funding per student. Thirteen of those states have cut back on the funding by ten percent. Fifteen of the states are providing less funding to the school district then they did the year before. Despite the fact that most states are experiencing a tax increases. 44 percent of the school funding comes from state funds and, decreasing those mean the school districts have to scale back the educational services or raise local property tax to cover to cost; some might have to do a combination of both. Education budget cuts began in July 2008 with reducing the number of teachers and other employees but as of August 2013 had cut 324,000 jobs nationally since 2008. Some states increased funding for the current school years but not nearly, enough to compare to what was cut the previous year. New Mexico for example had an increase of $72
In today’s economic environment even the wealthiest states and districts are having to cut funding for education, while districts which were already teetering on the edge are now in an even worse position. In some schools children have to face not having enough books, paper for copies, severe overcrowding,
* What is the labor market like for a better-trained professional? Is the market significantly saturated with trained labor already?