More on Education, Krugman's Logic

Here is a further pursuit on the effects of policy on the US education system.  Paul Krugman wrote a piece about the current state of our education system, and Krugman specifically targets the right wing for impeding on the growth of youthful minds.  The whole argument surrounds religion, and how colleges in the south have even parted away from certain majors that may contest what the bible has stated.

This question really sparks what I believe is a greater problem beyond the point of hindering human capital in America.  The standards that have been set by each party is something that I have had a problem with. 

Especially in the recent election, the GOP has reached out to focus on social hot button topics that ultimately ruin the opportunity for the fiscal policy to be implemented.  The economy should come first in the government system with the struggles of current times.

Another point to note is the final argument in Krugman’s piece.  If colleges are taking away certain majors in science departments, we are seriously crippling diversity in college education.  As of today, science majors have some of the highest growth potential, with innovation continuously occurring in the fields of science. 

The consequences of fewer schools offering science courses could cause a heavier flow of other majors to become impacted, including business and economics majors (two of the higher impacted majors already). 

My opinion is that it is likely that students going to colleges that aren’t offering these majors are schools with religious backgrounds.  Because of this, students aren’t going to be likely to partake in the same beliefs, hence little effect to the development in major diversification.  Even though it may not be the best for human capital growth in America, everyone should have a choice in what they want to pursue as a career.  In this case, Professor Krugman may be overlooking this matter, and should respect people’s decisions to follow their beliefs in their careers. 

Reference:

1. Krugman, Paul. “Ignorance is Strength”. NY Times. http://www.nytimes.com/2012/03/09/opinion/krugman-ignorance-is-strength.html

Tuition in America

The goal of higher education has a simple goal: educate those who want to learn, and allowing them to further improve their chances at obtaining a high income position.  However, universities have started to feel pressure to be the best university in order to create the best opportunities for their students.  Robert Frank writes about the consequences of this competitiveness, which has ultimately led to universities hiking up the price of tuition. 

The logic behind tuition raises still remains questionable.  Why would it make sense to raise monetary values of a college education and push out potential highly capable students who may not be able to afford the tuition? 

As I argued in a past entry, there is a problem with institutions raising prices to create any form of competitive edge or selectiveness.  Limiting human capital is the worst things a country can have occur.

In this case, the tuition raises are coming due to a perception by large corporations only considering students for employment from a select list of schools.  While this makes sense for convenience, the truth is that historical experience may support choosing candidates from these schools.  But Frank states the need to bump up the competitive level of these schools via tuition is unnecessary.

In my belief, there shouldn’t even be a high effect.  Coming from a school that is likely not in the highest tier of the chosen universities, the development in my human capital has grown similar to the state that I have seen from my former high school peers.  I reiterate that there is a benefit for corporations to target select schools for the convenience factor, but truly the corporations are likely missing out on maximum growth with their candidate selections. 

The situation goes back to the ability to efficiently skill match for positions around the United States.  I believe the first step to improving the matching process is to avoid limiting human capital.  Let’s hope that Frank’s message to the top tier universities stop the rising costs in tuition.

Reference:   

1. Frank, Robert. “The Prestige Chase is Raising College Costs”. NY Times. http://www.nytimes.com/2012/03/11/business/college-costs-are-rising-amid-a-prestige-chase.html?_r=1
2. King, Stephen. “Should We Break Up Our Universities”. CoRE Economics. http://economics.com.au/?p=8388