Higher education and the economy

BBC said:

Knowledge is power - economic power - and there's a scramble for that power taking place around the globe.

In the United States, Europe and in rising powers such as China, there is a growth-hungry drive to invest in hi-tech research and innovation.


They are looking for the ingredients that, like Google, will turn a university project into a corporation. They are looking for the jobs that will replace those lost in the financial crash.


Not to invest would now be "unthinkable", says Maire Geoghegan-Quinn, the European Commissioner responsible for research, innovation and science, who is trying to spur the European Union to keep pace in turning ideas into industries.


She has announced £6bn funding to kick-start projects next year - with the aim of supporting 16,000 universities, research teams and businesses. A million new research jobs will be needed to match global rivals in areas such as health, energy and the digital economy.........


As an example of a success story, Mr Muehlfeit highlighted South Korea. A generation ago they deliberately invested heavily in raising education standards. Now, as a direct result of this upskilling, the West is importing South Korean cars and televisions, he said.


The triangle of innovation, education and skills is of extreme importance, defining both the problem and the solution. Perhaps it is not a coincidence that South Korea's government has its own dedicated knowledge economy minister."

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Frolicking Dinosaurs said:

The question this article raises for me: should the US spend more on education and higher education to maintain a more educated populace for the sake of the future economy or should it continue to cut funding for basic education and college grants and loans?

I was shocked to see that both South Korea and China has gone from having very few college educated people to having 11% & 12% of the world's graduates in the last 20 years. If they continue this growth rate (and everything suggests their rate is accelerating instead of slowing down or stable) both will surpass the US as the major supplier of educated workers in about 15 years (because few graduates are being produced in the the US as well). The G-30 countries already have surpassed the US

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Councilman said:

Lack of education is not what the problem is with our economy unless you count the total lack of understanding of how our system works and what drives it by Obama all his advisers and the majority of of Democrats in Congress and some Republicans.

Our Government has make to many and some really ignorant rules regulations and laws that inhibit growth, expansion and as in the case of the housing industry, Congress passed the Community Reinvestment Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods, a practice known as redlining, and it open the flood gates to make loans to people who could not afford them.

If Government would back the heel off and get rid of the stupid regulations such as most of the environmental ones that are put in place because of the HOAX of man caused global warming it would help.

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Congress passed the Community Reinvestment Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods, a practice known as redlining, and it open the flood gates to make loans to people who could not afford them.

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