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Unbiased America
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Does education lift a society out of poverty? Not necessarily.
Aug 18th, 2013 at 8:14am
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A new study is challenging the "established" notion that increases in education and public investment will lift people out of poverty.

The authors found that economies with higher levels of redistribution and government control tend to produce more lobbyists, politicians, and lawyers, shifting educational resources toward these privately beneficial, but socially unproductive activities.

However, in economies with less government intervention, unbiased laws with no loopholes or favoritism, and more reliance on market prices to guide economic activity, investments in capital and education tend to create more engineers and scientists, positions which are both privately beneficial to individuals and also create a positive return for society as a whole.

Read the whole study here: http://www.be.wvu.edu/div/econ/work/pdf_files/10-15.pdf
  

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LibertariCAN
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Re: Does education lift a society out of poverty? Not necessarily.
Reply #1 - Aug 18th, 2013 at 3:32pm
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Unbiased America wrote on Aug 18th, 2013 at 8:14am:
A new study is challenging the "established" notion that increases in education and public investment will lift people out of poverty.

The authors found that economies with higher levels of redistribution and government control tend to produce more lobbyists, politicians, and lawyers, shifting educational resources toward these privately beneficial, but socially unproductive activities.

However, in economies with less government intervention, unbiased laws with no loopholes or favoritism, and more reliance on market prices to guide economic activity, investments in capital and education tend to create more engineers and scientists, positions which are both privately beneficial to individuals and also create a positive return for society as a whole.

Read the whole study here: http://www.be.wvu.edu/div/econ/work/pdf_files/10-15.pdf


People automatically assume that the "right" amount of money invested in public education is a fix-all solution for things like poverty and unemployment; rarely do these people call into question the quality of schooling children receive. Furthermore, people don't seem to consider that the education one child receives may not be suitable for another child.

Overall, I find it funny that we have to get to a point where the western world has collapsing education systems and we wait around for professionals to officially conclude that public education is a bad idea not only economically, but education quality as well.

Before the economics and all of that is considered, the foundation of public education should be questioned. The freedom to choose is completely destroyed.
  

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Unbiased America
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Re: Does education lift a society out of poverty? Not necessarily.
Reply #2 - Aug 18th, 2013 at 6:38pm
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LibertariCAN wrote on Aug 18th, 2013 at 3:32pm:
Before the economics and all of that is considered, the foundation of public education should be questioned. The freedom to choose is completely destroyed.


No matter what type, public or private, education in a free economy tends to create jobs like scientists and engineers. Education in a controlled economy creates more lobbyists, politicians, and lawyers. I think that's the point of the paper - people gravitate toward where the money is.
  

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Crystallas
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Re: Does education lift a society out of poverty? Not necessarily.
Reply #3 - Aug 18th, 2013 at 6:51pm
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Unbiased America wrote on Aug 18th, 2013 at 6:38pm:
No matter what type, public or private, education in a free economy tends to create jobs like scientists and engineers. Education in a controlled economy creates more lobbyists, politicians, and lawyers. I think that's the point of the paper - people gravitate toward where the money is.



Not only that. The artificial stimulation creates an artificial demand for positions that would not need to get filled in a free market. Teacher shortages and doctor shortages would go away overnight. The amount of z-profession the market wants, and the amount the state wants do not line up. Including the artificial perpetuation of growing a false demand for college.

  
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LibertariCAN
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Re: Does education lift a society out of poverty? Not necessarily.
Reply #4 - Aug 19th, 2013 at 10:07am
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Crystallas wrote on Aug 18th, 2013 at 6:51pm:
Not only that. The artificial stimulation creates an artificial demand for positions that would not need to get filled in a free market. Teacher shortages and doctor shortages would go away overnight. The amount of z-profession the market wants, and the amount the state wants do not line up. Including the artificial perpetuation of growing a false demand for college.



Exactly.

Also, what you stated about the artificial demand for college is especially true. The artificial demand in Canada (specifically Ontario) for a post-secondary education is ridiculous. This is due to the monopoly funding of public and Catholic secondary schools, and then subsidies for post-secondary education.
  

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