Human Capital

This article contains a great summary of the problems with most government programs. It then goes on to argue that what is really important for a growing economy is human capital. It’s hard to argue with that. But it then proceeds to call for a Marshall Plan for education, with government spending billions and billions. Sigh. Here’s the problem: big government programs mostly don’t work. Of necessity, they tend to be “one size fits all”. That doesn’t sound like a useful way to approach education, especially higher ed. Education doesn’t equate to schooling or degrees – it isn’t even restricted to academics. People who want to be educated will seek out education if they are able to do so. Our big problem is that the burden of big government reduces people’s ability to accumulate capital, human or otherwise.

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