If inequality is a concern, school is the solution

Posted: March 12, 2015 in Canadian Politics, Economy

Interesting but I have a concern. The conclusion that education is the answer to inequality in Canada doesn’t strike me as realistic. In order for the upwardly mobile to benefit from better education presupposes that there are enough jobs available to satisfy the demand. That doesn’t seem to be the case, according to some studies, as there appear to be more graduates than jobs. I’m not an economist. Did I misunderstand something?

“It seems significant that Piketty, the patron saint of the subject, is now trying to undo some of the wilder claims made about his work. In an article to be published shortly in the American Economic Review, he claims his main points have not been “not well-captured in the discussion that has surrounded my book.” Rather than blaming capital for rising income inequality, he says the phenomenon is the natural result of diverging skill sets and education in the labour market. His real purpose, he says, was to bring attention to long-run, historical trends—not stir up present-day outrage. From this perspective, things are not particularly dire. “Wealth inequality is currently much less extreme than it was a century ago,” he writes.”

via If inequality is a concern, school is the solution.

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