The Impact Of Education On The Economy And Current Faults

1. What arguments is Marsh making about the relationship between inequality and education in the United States? How does he distinguish his position from other common arguments about the degree to which education, especially higher eduction, can or cannot serve as a panacea for social ills in this or other countries?

Education can be considered the process of discovering something new that a person did not previously know. It is an essential part of life because it empowers people with knowledge, enables them to contribute to society, earn money, and become independent. Education is a process that starts when you are born.

America used to thrive on its education system and that is why it became one of the greatest nations in the world. Education is the backbone of our country, and we must give high priority to improve its current condition. Unfortunately, in the past couple of decades, the education system has been regressing. It has been on the decline and not as effective. The quality of education in a country has an influence on GDP growth, social cohesion and social well being in general. In order to improve the quality of education in the U.S., the following must be taken into consideration: the structure of our education system must be reanalyzed, we must compare and contrast our education system to systems of other countries with higher rankings, and finally, there must be a solution.

The strongest claim the author made was that the economy and education are highly intertwined. It is stated that without a public access to a higher level of education, the income equality will grow larger and our country of democracy and prosperity will be in jeopardy. The

The education system has been the cornerstone of freedom and equity for economic success in The United States. However, the history of education has never been so crucial to the collective future of our nation and to the young people. The public schools must struggle to provide equality in educational system as never before. The demand for education has become necessary and growing to provide education for all students to comply with the rigorous academic standards on a global scale (Baker, B. D., Sciarra, D. G., Farrie, D. (2010, p. 1).

Education is one of the most important assets a country can offer in terms of the future. Education is what drives technical advances and helps form the general structure of the country. As the United States’ monetary deficit grows, one may forget about the pending problems in education. These problems in education may led to the downfall of the once great global powerhouse the United States once was.

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.

What is it that’s making our country suffer from excelling in education? Very few would argue about the importance of our education system today. Issues such as lazy teachers, lack of parent involvement, and teaching useless information in class may hinder progress in today’s education system. An education plays a crucial role and is an essential tool, unfortunately, with all the jaded judgments; our students are not able to value their education. A proper education can open the doors to many opportunities that would have never been possible if it had not been for the knowledge and preparation that one received while in school. With the growing economy and desperate times, it is more important than ever for our country’s children to receive the proper education and training that is needed to allow them to acquire a good job and produce the revenue needed to live. Today's education system is flawed in many ways, and these flaws should be eliminated to ensure a good education for our future generation.

Since education is one of the most important weapons in today’s world, spending a large amount of money in education is not just boost the economy but also a great investment of the government to make America keep on growing. The future of our country is depending on how well our educational system prepares students to deal with the world. It’s also true that there are a lot of people move to the U.S. for a better education and also a lot of families had decided to send their kids over here for the purpose of education. With more internal students come in, the U.S. also can make money from it as

“The advice we would offer every halfway intelligent young person with a pulse—go to college—is not, I argue, counsel we can offer a whole generation of young people” (Marsh p.6). John Marsh explores in his article “Why Education Is Not an Economic Panacea” the correlation between income inequality and lack of higher education. In doing so he finds that education alone may not be a cure all for the problems faced by many low income families. Marsh shares what he had learned through his experience teaching impoverished students and how it is wrong to assume that education will positively effect someones financial outcomes. Marsh intends to open peoples minds to addressing problems such as poverty that may be the reason for a lack of education rather than assuming that deficiencies in education are to blame for the problem. I believe that what Marsh is advocating is a “living wage” for people in jobs that do not require a degree and he thinks that doing so will solve the problems of economic inequality and poverty (Marsh p.6). Is it wrong to think that increasing wages for unskilled labor or non professional jobs will solve these problems?

By implementing this right, this will lead to economic development, demolishment of poverty and a stronger more inclusive population. Allowing youth to be educated will pull them out of poverty, allowing them to get jobs, while letting the society work towards becoming more industrialized and modern (Saleem, 2014). Although this article relates only to Pakistan, this idea of introducing education has the same impacts in most developing countries. By making education a requirement in developing countries, it can boost economic growth, build the economy and allow people to get high paying jobs. In contrast, by introducing education, this slowly eradicates poverty as well as increases these economic factors.

Bal was born in one of the small villages in Nepal with substandard economy. He had to struggle his way out of the confines of a suburb life in order to gain quality education. He had a modest childhood as he went to a small village school where quality education was almost impossible to get. Since, the cost of education was in equal terms with the quality of education he received, it was not a big burden for his family to pay his tuition. Later, when Bal reached high school, a slight degree of financial strain began to press on his family. Giving up to the financial pressure, Bal started to teach when he was a teenager when his family’s financial situation aggravated by the absence of his parents who were in a different place in search

Education is the process of giving or acquiring knowledge as a way to develop skills or understanding of a subject, often specific to a profession. In Australia we have three basic levels of education that can stem out into further fields: primary school, high school and university or Tafe. In Australia you are expected to attend school until the age of 17 at a minimum before pursuing other pathways either by continuing education or by entering the workforce.

Studies set out in the last decade advise that there is an increasing priority for countries to promote a healthy educational policy to spike development. According to Hanushek and Wößmann, “educational quality – particularly related to developing countries – is THE critical issue” for progress. Cognitive abilities obtained during primary and secondary schooling historically bring about more economic returns. So, there are two main ways in which education can be improved: 1)through increasing quantity and quality. 2)By increasing the amount of schooling, students have more time to develop necessary skills in disciplines such as reading, mathematics, and science. Hence, bolstering the quantity of education should foster human capital, hopefully bolstering productivity in the long-term. Additionally, a more educated workforce has a higher capacity for innovation, helping bring about structural changes to the economy. According to Hanushek and Wößmann (2007, p. 24), “several recent studies suggest that education is an important both as an investment in human capital and in facilitating research and development and the diffusion of technologies.” Hence, increasing the quantity of education helps students gain more familiarity with technology, which encourages future innovation and productivity. However, due to limited research on the subject, Hanushek and Wößmann (2007) are skeptical to make any definitive links between development and the quantity of schooling. Interestingly,

A person’s education is one of the most important factors in determining whether or not they will become a productive member of society.Facing the technological revolution that we are going through without a good quality education , a person will be left behind .