Does Education Matter?: Myths About Education and Economic Growth (Penguin Business) Review

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Does Education Matter: Myths About Education and Economic Growth (Penguin Business) ReviewThe conventional wisdom about higher education goes like this. It is imperative for government to get more and more students into and through college because we are now in a "knowledge economy" and unless we have enough highly skilled workers, we will fall behind. Almost no one in politics or the education establishment ever questions those beliefs. It is widely accepted that increasing the amount of formal education is the means by which states or nations that are relatively poor can lift themselves up economically.
Professor Alison Wolf of King's College in London challenges the conventional wisdom in this extraordinarily insightful book. Actually, it's more than a challenge -- it's a thorough refutation. She demonstrates that the "knowledge economy" does not significantly change the broad contours of the labor force, that a high public "investment" in formal higher education is neither necessary nor sufficient for strong economic growth; and that the best educational policy to follow would be to ensure that young students learn well the academic basics (which many now don't, even if they graduate from college).
Does Education Matter? is absolutely essential reading for anyone with an interest in educational policy.Does Education Matter: Myths About Education and Economic Growth (Penguin Business) OverviewHighly topical and controversial examination of the education system. "Education, education, education" has become an obsession for politicians and the public alike. It is seen as an economic panacea: an engine for growth and prosperity. But is there a link between increased spending on higher education and economic growth? Professor Alison Wolf takes a critical look at successive governments' education policy and challenges many of the tenets of received wisdom: there are no economic reasons for spending more on higher education in order to stimulate growth. The conclusion of this devastating book is that a large proportion of the billions poured into vocational training and university provision might be better spent on teaching the basics at primary school.

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