The Next Generation: How to Make It Better?

Tackling the United States’ long-term education crisis is just as vital as tackling the nation’s short-term jobs crisis.

Chalkboard_SmallEvery once in a while–and it does not happen very often — something comes along that deserves to have a strong influence on government policy, individual behavior, and how business leaders align the pursuit of profit with their social responsibilities. I believe that two issues warrant such a designation today; and the implications are consequential.

The first is something I have written a lot about and it worries me greatly — as an economist, a parent, and someone concerned about the most vulnerable segments of our society.

What I am referring to here is the real risk that, for the first time in nearly a century in most western countries, our children’s generation may end up worse off than that of their parents. This sad state of affair is the result of a number of multi-year developments.

For too many years, our job creation engines were excessively re-oriented from competitive global markets to inwardly-oriented sectors that were taken to unsustainable levels (e.g., construction, finance, housing and retail). The result was an unbalanced and vulnerable labor force.

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Source: Mohamed A. El-Erian | The Atlantic