America’s labour market is not working – FT.com (Could It Be Education?)

In 2014, 12 per cent — close to one in eight — of US men between the ages of 25 and 54 were neither in work nor looking for it. This was very close to the Italian ratio and far higher than in other members of the group of seven leading high-income

Source: America’s labour market is not working – FT.com

Mr. Wolfe, the problem is a lack of education. And I don’t mean a lack of degrees.

I’m not an economist (I’m a former math professor.), but it certainly seems to me that if an economy needs educated (Again, don’t confuse that with “degreed”.), workers, and they aren’t readily available, then there will be more unemployment.

What I mean by “degreed but uneducated” should be obvious, but I do want to make one point with an example.

If you learn how to do calculus – just how to do it period – that will not make it easier to learn how to use a spreadsheet; but, if you really learn calculus, you will find it much easier to use a spreadsheet.  That is because you will have trained your mind to think quantitatively.  It’s that simple.

In the 60’s students who took calculus learned it.  Now, they mainly just get certified in it.  (If you doubt me, just compare today’s AP Calculus with the one from 1970.)

This same phenomena is true across all disciplines. It is because the American higher educational system, as a whole, is corrupt. (In a recent issue,The Economist has done an excellent job reporting and analyzing the system. Thank you.)

But here is what is even worse.

The effect of this corruption has seeped down to America’s K-12 system.  To see how, just ask yourself where high school teachers go to learn, and within what system do “professors” at regional state schools get their “credentials”, and why it might be in the interest of more “elite” schools to credential them.

For anyone who wants to know more, I have a blog inside-higher-ed that has convincing examples and documentation