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Candidates for teaching jobs in Washington, D.C. complete a writing sample as part of their interview. Photo: Emily Hanford, from ARW's "Testing Teachers" documentary

Green Teachers

A generation ago, if you walked into an American classroom, you’d likely find a veteran teacher who'd been on the job for 15 years or more. Today you're more likely to find a brand-new teacher – someone who's been the job for a year or less.

Recent Posts

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  • 04.15.15

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in collaboration with Spotlight on Poverty and Opportunity

Privatize Social Security (like Chile has)

File under: personalfinance, taxes

0 (0 votes)

From: Adakin V., Charleston, SC

Please note that "poverty" is relative. According to "The Economist" magazine, what is called poverty in the United States is equal to the same standard of living that the "average" worker in Europe has.

Take a look at this:

http://www.etftrends.com/2009/06/7-reasons-like-chile-its-etf/

Please note item six: "Chile boasts a poverty rate of 13%, down from 39% in 1990."

So what happened in Chile over the past 20 years?

What happened was the maturity of Chile's social security paradigm, where individuals own their accounts -- they invest what would have gone to government-run Social Security into a private retirement account. And when a worker dies, the lifetime of accrued contributions and compounding interest is part of his or her estate, going to heirs and favorite charities.

Just think of the macro-economic benefits to a young family when grandparents die and leave them with enough to pay off their mortgage, or fund their kid's college, or allow them to buy that business franchise, or invest in whatever opportunity avails itself. Just think of the young couple whose grandparents die when they are in their 20s or 30s, and whose parents die when they are in their 50s or 60s. These periodic slugs of capital are outside of this couple's normal earnings. And it's these slugs of capital that blossom into real wealth creation once that family's normal everyday needs are satisfied.

The Chilean Social Security paradigm is the best solution to systemic poverty, because it allows multi-generational wealth accrual.


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American RadioWorks |
Candidates for teaching jobs in Washington, D.C. complete a writing sample as part of their interview. Photo: Emily Hanford, from ARW's "Testing Teachers" documentary

Green Teachers

A generation ago, if you walked into an American classroom, you’d likely find a veteran teacher who'd been on the job for 15 years or more. Today you're more likely to find a brand-new teacher – someone who's been the job for a year or less.

Recent Posts

  • 04.22.15

    The First Gen Movement

    Over the past decade many elite colleges have taken great strides to admit low-income students, but there are unanticipated financial and cultural barriers to fitting in on campus that can’t easily be solved by merely giving students a foot in the door. Questions of class differences have spurred a nationwide movement of “first generation” student clubs on college campuses.
  • 04.15.15

    The Lost Children of Katrina

    In the year following Hurricane Katrina, 30 percent of displaced children were either not enrolled in school or not attending regularly. Today, Louisiana has the nation’s highest rate of young adults who are neither in school nor working. And researchers are starting to ask: could the widespread gaps in schooling after Katrina be the reason?
  • 04.08.15

    Saving a Women’s College from Closure

    Last month the board of Sweet Briar College announced that the school will shut its doors at the end of this term, due to financial difficulties. The announcement was made abruptly, sending the campus community into a state of shock... and then activism.
  • 04.01.15

    The Future of College

    Kevin Carey's book "The End of College" is stirring up debate in higher ed circles. This week, a response to the book by a critic.