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ERIC Number: ED328960
Record Type: RIE
Publication Date: 1990
Pages: 12
Abstractor: N/A
Reference Count: N/A
ISBN: N/A
ISSN: N/A
The "New" Economics and Education--Challenge and Opportunity.
Mahony, David
The "new" economics of education replaces the "old" economics expressed in human capital theory, which viewed education as contributing to individual enhancement and ultimately to economic betterment. The "old" economics foundered on the rising levels of youth unemployment, a result of declining productivity and economic growth and rising public debt. The "new" economics, emphasizing a more skillful, educated work force, shifts focus from the individual to the national community and advocates linkages between schooling and industry. Both "new" and "old" economics are rooted in the pre-Keynesian economics of the neoclassical school. Unlike laissez faire capitalism, the new economics policy sees government's role as providing a climate that allows the imperatives of business efficiency and economic success full expression. The present highly business-oriented view of a society's resources is not an Australian phenomenon, but must be viewed in its international context. Although the "new" economics may appear discordant to educators, the movement has greatly affected government's educational concerns and goals. Educational communities must respond critically and constructively so that the government's often poorly articulated concerns and the realities of social change receive constructive expression in educational practice. The education establishment's basic duty is to transcend the social obsessions of the moment and balance competing educational aims. (39 references) (MLH)
Publication Type: Reports - Evaluative
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers: Australia