12-29-2012, 08:18 PM
(12-29-2012, 07:39 PM)kandrathe Wrote: I would then agree that the line would be flat with a small offset for acquiring new skills. But, if GDP doubles over 20 years, there is no reason the cost of education per pupil doubles.
But what is the correct level to fix education at? I would argue that most countries under-prioritize education. The value of an educated population (not just economic, but social) is incalculable. If you wanted to find a place to economize, my suggestion would be to look elsewhere.
Quote:I think there is a fallacy in here. Underpay will get you worse, but there is no advantage to overpaying.
If you believe there is a competition among good jobs for highly talented people, then yes, overpaying gets you better people. Or, at least, makes teaching a much more attractive option for people whose career and education trajectory would otherwise take them to higher-paying professions. That's not a fallacy, that's opportunity cost.
-Jester