Education: a ‘world market’ Total spending on education amounts to $2 trillion, or one 20th of world GDP.3 As Glenn R Jones sees it: ‘Education is one of the fastest-growing of all markets. Private training and the adult education industry are expected to achieve double-digit growth throughout the next decade.’4 Jones, CEO of virtual university Jones International Inc, is head of the Global Alliance for Transnational Education, one of the principal lobbying groups offering consultation to the WTO in its efforts to eliminate barriers to trade. Read more at: The Ecologist
Thanks David, That was very interesting. I didn't realize education was such a business.... Guess I am naive. you gave me something to thing about. clint
The figure includes all education and training, most of which is not tertiary. Primary, secondary, vocational, industry, etc., are all forms of education and training that would fall into this category. Gee, another cited reference to the "business" of education. Music to my ears. All private universities are businesses, and most public universities must be run as businesses as much as possible. They must draw revenues and customers, and operate within budget to avoid losses. They advertise, promote, develop new products and markets, deliver, and respond to changing market conditions. Some succeed, others fail. What every society must decide is to what extent it gains from universal education. In the U.S., we have a strong history of providing universal primary and secondary education, and a pretty strong one of providing public post-secondary (tertiary) education to many. (Not to mention the many forms of public assistance that can be used in either public or private universities.) We value a well-educated populace, using our tax dollars to educate other people's children, even if we have no children ourselves. To put it into the extreme, if the kid down the block gets a high school or even college education, he's less likely to steal my car.
Come On! 2 TRILLION? I looked up Zimbabwes President Mugabes education bio and he spent that alone on his tertiary education. *LOL*