EDAD 645
What Shall we Learn?
Tonight, we will cover…..
Why is education important?
With education come benefits in a wide range of areas
Poor countries = poor people Why?
Equity in access to education
In short
Benefits of education extend beyond the individual
The economics of education
The question of democracy
In modern times….
Investment in Humans…
Will the poor always be there?
Education and the Economy
Their motives?
In France and Germany, mass public education was considered vital to the technological development upon which future prosperity would depend.
Other countries?
Britain entered the 20th century as the most ignorant country in Europe, having neglected basic education on the basis of a political doctrine which held public education to be inconsistent with the imperative of maintaining low taxes.
More…
Human capital and economic growth
What is “human capital”?
These “United States”
Education and income distribution
Let’s turn now to…
Major Economic Systems
John M. Keynes ("Canes"
John Kenneth Galbraith
Milton Friedman
Adam Smith
Free-Market Economy
Individuals are free
What are “Public goods”?
The lighthouse example
Education as Human Capital
Human Capital
Economic Benefits of Education
Total Income related to education
Non-economic benefits of education
Section 2 – Who controls education in the US?
Al Gore vs. G.W. Bush (from PBS Online News Hour http://www.pbs.org/newshour/bb/election/july-dec00/gore_education.html)
More….
PBS’ take on AL Gore
Al Gore
Gore: “We've begun hiring 100,000 new teachers to reduce class size and we're insisting that every new teacher hired under that program be fully qualified. “
G.W. Bush on Education
“Marginal Dollar Principle”
Burrup’s thoughts…
The point of diminishing returns..
Email: jimjeff@andrews.edu
Home Page: http://www.andrews.edu/~jimjeff/
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