Competing in the Global Economy
So many of the headlines these past few weeks have been stating the concern about the current state of our economy, and with good reason. One important thing we should all consider as we weather the current economic challenges, is what we do to prepare to continue to remain competitive in the ever-increasingly global economy. It’s no longer a matter of comparing how one state ranks compared to another, but now we must be able to compete with nations across the globe.
One critical component to achieve this, is education. Equiping our children, our future work-force, with the knowledge, the critical thinking and the tools they need to be competitive is imperative, and business leaders across the country are recognizing this.
In this article, “How to Succeed in our Global Economy,” for the Friedman Foundation, John Schnatter is the founder, chairman, and former CEO of Papa John’s International, Inc., considers the current state of American education, and explains how choice is critical to make sure we can succeed in a global economy.
In today’s global economy, our children are being educated and trained not only to compete with students in other states, but in nations across the globe. Furthermore, an educated workforce becomes even more important as our society becomes more technologically advanced. By most accounts, our nation’s educational system is failing to adequately educate our students in a manner that will allow our economy to innovate and prosper in the long run.
I’m very troubled by the state of our educational system and how its shortcomings may affect our nation’s economic future. It seems everyday, we hear the experts citing a host of problems as to why our educational system is not operating up to its potential, including lack of funding, limited parental involvement, fewer two parent households, lack of accountability for schools and teachers and the impact of limited school choice. I’d venture to guess that there is no ’silver bullet’ solution to the problem, and that society will need to tackle a number of issues in order to have a substantial impact.
While additional funding might help, funding itself doesn’t seem to be the primary issue, as per capita educational spending on American primary and secondary education has increased 24% (adjusted for inflation) in the past 10 years, and the U.S. spends more per student than nearly every other industrialized nation.
