Flattening the Great Education Myth | By David Sirota | San Francisco Chronicle - 12/4/06 (Permalink)
Helena is not the kind of place that top government officials, business leaders or Washington pundits usually think of when they discuss international trade policy. That’s too bad, because had they attended the community meeting in this mountain hamlet last month, they would have seen firsthand how powerless middle America is in what has become a vacuum of national leadership on globalization.
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Sadly, the hard data tells us that, as comforting as this Great Education Myth is, we cannot school our way out of the problems accompanying a national trade policy devoid of wage, environmental and human-rights protections.
As Fortune Magazine reported last year, “The skill premium, the extra value of higher education, must have declined after three decades of growing.” Citing the U.S. government’s Economic Report of the President, the magazine noted that “real annual earnings of college graduates actually declined” between 2000 and 2004. The magazine also noted that new studies “show companies massively shifting high-skilled work — research, development, engineering, even corporate finance — from the United States to low-cost countries like India and China.”
It’s not that workers in these other countries are smarter, says Sheldon Steinbach of the American Council on Education. “One could be educationally competitive and easily lose out in the global economic marketplace,” he told the Los Angeles Times. Why? “Because of significantly lower wages being paid elsewhere.” ...
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