More on Education

Because it became a campaign topic, it seems that education has become a popular conversation topic again. Below, I have a segment from this very interesting article, thanks to the Mankiw site for the linkage. It is true that income inequality seems to be a growing problem. The author gets to the root cause of income inequality, the growing income premium going to high skilled workers. Income redistribution solves the problem of poverty (lack of money), but does not get at the cause of poverty...low income. Education gives workers the opportunity to acquire the skills needed to earn a larger income.

The most effective anti-poverty program we could devise for the long run would have less to do with income redistribution than with ensuring that poor kids get a first-rate education, from preschool on. One recent study found that if American students did as well as those in several Asian countries in math and science, our economy would grow 20 percent faster.

So let’s break for a quiz: Quick, what’s the source of America’s greatness?

Is it a tradition of market-friendly capitalism? The diligence of its people? The cornucopia of natural resources? Great presidents?

No, a fair amount of evidence suggests that the crucial factor is our school system — which, for most of our history, was the best in the world but has foundered over the last few decades. The message for Mr. Obama is that improving schools must be on the front burner.