Transcript

NARRATOR:

The human capital model of education is an educational discourse worldwide. Parents encourage their children to work hard at school because then they will get a good job. Education is seen as a means to accrue individual wealth and to better a person’s life. It can even move a family out of poverty.

Under the human capital model, it is worthwhile for society to invest in education because it will ensure economic growth. Businesses and governments see spending money on science, technology, engineering, and mathematics, or STEM education, as a good thing in order to innovate and modernise so a country keeps pace with others and generates growth and more wealth within society.

The model focuses on investment and return. This focus on return means that investment in such things as art education is questioned, but research has found that the quality of education correlates more strongly with economic growth than simply the years spent in school.

Until recently, more education meant higher wages, and therefore, higher repayments in taxes. But in some countries, the economy and labour market are not strong enough to ensure this. Thus, investment in education no longer has a guaranteed return. And in some countries, schooling is not available to children with disabilities or learning difficulties, possibly justified by the poor return.

Next time you tell someone to work hard at school so that you can get a good job, think how far you’ve subscribed to the human capital model.