- 25 Feb 2005 04:40
#577466
Right, but it guarantees a HIGHER wage on average because educated people will be more productive. Plus, economic growth will be faster.
This is a shortsighted view. Now, I would say, no more than 30% of people advance the progress of this civilization. Others perform simple tasks which don’t affect the progress and vote for destructive politicians which slows down the progress. If more people get educated they would first be able to make a more deliberate political choice, which would force politicians to make more business friendly policies. New business opportunities, new industries, and new white collar jobs will be created. For example, besides surgeons and stockbrokers new occupations will emerge related to the manufacturing of automatic burger flippers while burger flippers themselves would no longer be needed.
Supply and demand. An education per se doesn't guarantee a high wage.
Right, but it guarantees a HIGHER wage on average because educated people will be more productive. Plus, economic growth will be faster.
It's the scarcity of the skill or qualification. You can't have a nation of surgeons and stockbrokers. Someone still has to flip burgers and a burger flipper with a degree in sociology will still only get paid to flip burgers - as half of Britain's burger flippers could tell you.
This is a shortsighted view. Now, I would say, no more than 30% of people advance the progress of this civilization. Others perform simple tasks which don’t affect the progress and vote for destructive politicians which slows down the progress. If more people get educated they would first be able to make a more deliberate political choice, which would force politicians to make more business friendly policies. New business opportunities, new industries, and new white collar jobs will be created. For example, besides surgeons and stockbrokers new occupations will emerge related to the manufacturing of automatic burger flippers while burger flippers themselves would no longer be needed.