Higher Ed, Income Inequality & the American Economy (Part 2)

Will more and better education fix the economy?

Last week, I provided an overview on a topic of vital importance: the highly uneven nature of America’s economic recovery since the Great Recession of 2008. Corporate America and its shareholders are doing very well – but the great majority of wage earners are not. What accounts for this unevenness? Noted Harvard economist Gregory Mankiw is quoted as saying, “The best way to address rising inequality is to focus on increasing educational attainment,” (The New York Times, “Income Inequality and the Ills Behind It,” July 30, 2014). Is this statement true? Or does the real answer lie elsewhere?