Does student achievement really spur national economic growth?
by MikeGeneEducational policy discourse supports the idea that increases in science and mathematics achievement correlate to nation-wide economic gains. However, a thought-provoking new study from the American Journal of Education challenges the perceived causal links between educational achievement and economic growth. Francisco O. Ramirez (Stanford University) and his co-authors find that without the so-called "Asian Tigers," the correlation diminishes and all but disappears.
-Here
November 27th, 2006 at 8:50 am
Certainly a fascinating study. Economic growth is certainly the result of a complex web of inter-related factors, much as is a living organism.
When it comes to economic growth, the wide base of the pyramid is far more important than the small peak. In other words, the environment for starting and successfully operating small businesses, motivating employees, and offering basic infrastructure is more important than breakthrough scientific discoveries, sorry to say.
The other super key factor is capital markets. Can business enterprises get access to sufficient capital to make investments in growth? Does the system encourage appropriate risk taking?
Finally, the moral fiber of the people should be considered. Societies where corruption is rampant, or selfishness rules, do not do well no matter how great their science and mathematics programs are. This is one reason why the diatribe against "religion" and "values" is so counterproductive. All the knowledge in the cosmos will not help a people if they apply it to the wrong ends.
Comment by Ekstasis — November 27, 2006 @ 8:50 am