The principal reason for this, I think, is that educational systems are increasingly out of touch with the needs of the ideas economy. The current education system that our and other countries developed was suited to the industrial revolution, a one-size-fits-all model for education that treats people as commodities. But we’re in an innovation age where creativity, individual initiative, willingness to think out of the box and disrupt established business or even lifestyle patterns is much more important than simple manual tasks that produce the next widget. So I think the great challenge for developed economies like the U.S. is to reinvent education.
Absolutely. Nothing gets me more wound up than watching my children go through an educational paradigm that is completely out of touch with the world into which they will be sending their students. If I weren’t busy trying to re-invent finance, I’d focus on education.