American RadioWorks |
A student learns welding at a vocational high school in Massachusetts. (Photo: Emily Hanford)

Ready to Work

Vocational education was once a staple of American schooling, preparing some kids for blue-collar futures while others were put on a path to college. Today the new mantra is "college for all." But not everyone wants to go to college, and more than half of jobs don't require a bachelor's degree. Many experts say it's time to bring back career and technical education. This American RadioWorks documentary explores how vocational education is being reimagined.

Recent Posts

  • 04.28.16

    “My Frain is Bried”: Shadowing a Student

    "Welcome to our world." Educators take an entire school day to shadow a student and walk in their shoes. We find out how it went for one teacher.
  • 04.21.16

    High School Job Prep

    Want a job? So does every student ever! Maybe career and technical education classes are the way to go. Shaun Dougherty says you could be more likely to graduate and earn more if you do.
  • 04.14.16

    How Tutoring Helps Students

    Private tutoring is no longer just for the rich kids. Our guest tells us how the individual attention improves student learning and graduation rates.
  • 04.07.16

    Is Advanced Math Necessary?

    In our last episode, Andrew Hacker argued that math courses like algebra are unnecessary for most high schoolers. This week's guest couldn't disagree more.


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.


Comments:

American RadioWorks |
A student learns welding at a vocational high school in Massachusetts. (Photo: Emily Hanford)

Ready to Work

Vocational education was once a staple of American schooling, preparing some kids for blue-collar futures while others were put on a path to college. Today the new mantra is "college for all." But not everyone wants to go to college, and more than half of jobs don't require a bachelor's degree. Many experts say it's time to bring back career and technical education. This American RadioWorks documentary explores how vocational education is being reimagined.

Recent Posts

  • 04.28.16

    “My Frain is Bried”: Shadowing a Student

    "Welcome to our world." Educators take an entire school day to shadow a student and walk in their shoes. We find out how it went for one teacher.
  • 04.21.16

    High School Job Prep

    Want a job? So does every student ever! Maybe career and technical education classes are the way to go. Shaun Dougherty says you could be more likely to graduate and earn more if you do.
  • 04.14.16

    How Tutoring Helps Students

    Private tutoring is no longer just for the rich kids. Our guest tells us how the individual attention improves student learning and graduation rates.
  • 04.07.16

    Is Advanced Math Necessary?

    In our last episode, Andrew Hacker argued that math courses like algebra are unnecessary for most high schoolers. This week's guest couldn't disagree more.