The Global Economy: Can social development lower unemployment?

"Education pays!"
Illustration by David Brooks
Katherine Boswell
Director‚
Community College Policy‚ AED Higher Education Management Services Center

The official sign greeting visitors to the state of Kentucky says it all: “Education pays!” Even in our present troubled economy‚ access to postsecondary education or training has become the threshold requirement for career success.

Whether one considers a neighborhood‚ city‚ state‚ or nation‚ those with higher levels of education have higher incomes and greater economic growth. But it isn’t just society that benefits from increased educational development. It pays off for individuals and families‚ too. Those with the most education are much less likely to experience violence‚ addiction‚ illness‚ incarceration‚ and other forms of abuse. The least-educated are most likely to be living in poverty. Those who are educated are much more likely to be employed and to participate in our civic democracy.

Increasing opportunities for every citizen to access additional education‚ whatever his or her age‚ should be a high priority for our policymakers as they consider how to revitalize our struggling economy.

 

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