I think this whole education solves all is a giant hail mary wish.
I'm in Canada and this is all we hear as the solution as well. Economy is going down, jobs leaving... invest in education.
Yet, where are the results? Nortel collapse. BB not doing too well. Skilled foreign workers programs. Can anyone tell me why we waste all this money on Western education if we're just going to import our skilled labor? If they can do the work, maybe all this spending on education is a waste. Seems they can spend much less and get good people.
You look at the US as well. Ok, some great companies in the US. No doubt about it. Here's a small hint to people. The US has over 300 000 000 people.
Heck, here's some perspective. Silicon Valley can't even provide prosperity for California. Just let that sink in. These guys talk about technology and education bringing prosperity to a whole country. Yet, it can't even bring prosperity to a single state.
Globally there's probably 6 or 7 billion people. Are we all going to be coders? Seriously...
Software and technology definitely gets people some jobs. But it pales in comparison to hundreds of millions and billions of people. But of course, rather than deal with this reality, our leaders just say... somehow if we pour enough into education, magic will come out and bring back the 1990s or whatever.
It's all they can think I guess.
I don't have all the answers, but we put way too much thought into education and far too little into everything else.
Germany is a huge powerhouse. They also have a big industrial policy. Ditto for China. And China has huge state firms and state lending.
I'm personally just sick of the education solves all problems that dominates North America. Where the hell are the results of all these?
Again, I'm not saying we don't need an educated populace. It's just does not solve the problem of jobs/prosperity.
I liken it to the great myth of solving healthcare costs. Only politicians and even people like to trot out that prevention will fix healthcare costs. It sounds nice, prevention is low cost and you won't need expensive surgery.
Of course, the data doesn't support that.
Basically, most costs are in old age anyways. In the big picture, unhealthy people are actually cheaper to treat because they die sooner.
Instead of dealing with the reality of old age costs, and the nasty debate of that (rationing, death panels...), we all just throw a hail mary at prevention.
Education sounds similar. A giant hail mary to solve a problem it can't.