Capital Commerce

Paul Krugman: Nationalize Education

December 29, 2008 RSS Feed Print

In today's NYTimes, Paul Krugman does accurately identify a growing problem, that of governors raising taxes (usually) and cutting spending (less so) to deal with budget shortfalls. "50 Herbert Hoovers" is how the headline describes the situation. But toward the end, he offers that Uncle Sam should pick up the tab for education spending, both now and in the future:

An educated population is a national resource. Why, then, is basic education mainly paid for by local governments, which are forced to neglect the next generation every time the economy hits a rough patch?

I am starting to lose count here. Nationalize finance. Nationalize autos. Nationalize housing. Now it's nationalize education. I am starting to detect a trend ...

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Coming from a college student, I think I know a reason for some of this lack of progress. You're right spending doesn't seem to matter, though I would like to say that for basic education, elem. to hs. I feel that college is much different, and people change their viewpoints, start looking for employment and figuring out their purpose and what they need to do to achieve that.
Now, I really think that kids now, middle-year teenagers, and likely future will care less and less. I've noticed myself with that and compared myself to how I though 3-5 yrs ago compared to how kids do now. The attitude is different. I am an athletic kid, played sports in high school and might play in college, but I've always been interested in a specific subject, that being economics, and I made it my goal. I just do not think that kids set academic goals anymore, when I say that I mean sophomores and below in high school.
The worst thing too is that I do not see a real fix to this dilemma, the percentage is likely to be stagnant, though overall more kids should be graduating HS and college. The one thing I thought that might be a help, is prepare kids for employment earlier, offer programs to usher them towards their desired direction, some kids do know where they want to go.
I do not like the trend of nationalization, I hate the direction we are going in because it disrupts everything. Free-markets are the way to go. There is no better way to allocate resources than the way we are doing it, thought increased regulation in some areas is needed, plus a high capital percentage.

Jason of NY 6:03AM December 30, 2008

There is little relationship between quality of education and spending. The children of the 50's were head and shoulders above the students of today because they were regimented and disciplined. I don't know if that is good in general, but it made for well educated students.
Blaming schools or spending on the level of retardation of today's graduates is a dead end. Until we return to the notion of responsibility there will be no improvement in the retards who have been taught self esteem at the expense of learning.

Luther of IL 3:55PM December 29, 2008

You make all these snarky observations but rarely provide a solution. What is your idea? Slash education spending or follow Mayor Daley by filling the spending shortfall by privatizing/capitalizing assets (i.e. trading decades of cash flows for a couple of years of current cash flow) or providing vouchers (funded how?).
You guys are negative but where are the solutions?

concerned reader of Pethmeth of IL 11:04AM December 29, 2008

Paul Krugman: Nationalize Education

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