Cost Of Bad Schools Adds Up For Economy
By: Import User
Updated: April 23, 2009
(Washington, DC) -- The rotten performance of American public schools creates a lag on the economy that can be measured in dollars lost.
"The New York Times" reports a new study by a management consulting firm puts the bottom line at $3 to $5 billion a day.
That's right, the nation's Gross Domestic Product would rise by billions every day if the average American was as well-educated as his or her Asian or European counterpart.
McKinsey and Company, which did the study on its own without being commissioned, said one of the key problems is also the least surprising.
When cities are compared to suburbs, or minority achievement compared to that of white kids, there were wide gaps in the quality of the schooling.
That also held true when comparing kids from similar backgrounds who grew up in different parts of the country.
McKinsey used federal and international tests and interviewed both education researchers and economists to arrive at their findings.
(Copyright 2009 by Newsroom Solutions)
