While American college graduates are far more knowledgeable than American nongraduates, creating a substantial “wage premium” for diploma holders, they look mediocre or worse compared to their college-educated peers in other nations. This reality should worry anyone who believes — as many economists do — that America’s long-term prosperity rests in substantial part on its store of human capital. The relatively high pay of American workers will start to erode as more jobs are exposed to harsh competition in global labor markets. It will be increasingly dangerous to believe that only our K-12 schools have serious problems.
Posted on: Tue, 01 Jul 2014 15:06:33 +0000