“Education Is the Economic Issue of Our Time”

Earlier this week, President Obama demonstrated his commitment to education, when he signed legislation that will provide fiscal relief to school districts across the US, and that will allow 160,000 teachers to keep their jobs.  This legislation was signed into law on August 10th, following a speech the President made on the future of the American economy, and its close relationship with education, at the University of Texas at Austin. In the speech, the President bemoaned the  recent decline of college graduation rates, and emphasised the connection between educational success and economic strength, stating:  “education is the economic issue of our time”.

He also stressed the moves that the Obama administration has made to make higher education more widely accessible to Americans, through financial aid, grants and improvements in community colleges, that reinforce the link between ”the skills taught in our classrooms to the needs of local businesses in the growth sectors of our economy”.

Obama’s sentiments were also echoed closer to home, by Universities and Science minister David Willetts, who, in response to the Push National Student Debt Survey, commented that university costs should be seen as an investment, as  graduates can expect to earn at least £100,000 more than non-graduates across their working lives.

The link between education, economy, and skill development is also being emphasized in the social enterprise world :  UEL and bromley-by-bow centre have launched a BA in Social Enterprise at their communiversity, in a bid to help people who do voluntary community work gain qualifications, and develop innovative approaches to tackling social problems.

All in all then, a clear and resounding message: education is an investment in the economy, in the workforce, and in social innovation.