Opinion
Education Letter to the Editor

Economics, Knowledge, and the Keys to Success

March 28, 2006 1 min read
  • Save to favorites
  • Print

To the Editor:

I began reading “The Exaggerated Dropout Crisis” (Commentary, March 8, 2006) with great hope. Perhaps we Americans are doing better at graduating our students than we have been led to believe.

Then I was stunned by the blithe opening premise of Lawrence Mishel’s exposé: “Knowledge is becoming more important in the economy, and ‘returns to skill’—higher wages for workers with more education—should be growing.”

Are we supposed to accept that this thing called “knowledge,” apparently owned by those with “more education,” is the key to success in industry, at least monetarily? And that other factors, such as one’s character, attitude, and effort, and even on-the-job training don’t count?

Many studies say otherwise. For example, research sponsored by AT&T found that, among its managers, “those who had higher scholastic-aptitude scores upon graduation from college were reliably less happy and more psychologically maladjusted by their mid-adult years” than those with lower scores.

Are we to believe these less-happy, more-maladjusted, but yet more “knowledgeable” managers still made more money than their happier, better-adjusted, but less knowledgeable colleagues? Don’t such studies tell us that there must be other, more powerful factors than what passes for knowledge that determine success in industry and in life?

It seems to me that Mr. Mishel’s argument was reduced to “my assumptions in determining dropouts are better than your assumptions.”

Joseph W. Gauld

Founder of Hyde Schools

President

Hyde Foundation

Bath, Maine

A version of this article appeared in the March 29, 2006 edition of Education Week as Economics, Knowledge, And the Keys to Success

Events

This content is provided by our sponsor. It is not written by and does not necessarily reflect the views of Education Week's editorial staff.
Sponsor
Special Education Webinar
Bridging the Math Gap: What’s New in Dyscalculia Identification, Instruction & State Action
Discover the latest dyscalculia research insights, state-level policy trends, and classroom strategies to make math more accessible for all.
Content provided by TouchMath
This content is provided by our sponsor. It is not written by and does not necessarily reflect the views of Education Week's editorial staff.
Sponsor
School & District Management Webinar
Too Many Initiatives, Not Enough Alignment: A Change Management Playbook for Leaders
Learn how leadership teams can increase alignment and evaluate every program, practice, and purchase against a clear strategic plan.
Content provided by Otus
This content is provided by our sponsor. It is not written by and does not necessarily reflect the views of Education Week's editorial staff.
Sponsor
College & Workforce Readiness Webinar
Building for the Future: Igniting Middle Schoolers’ Interest in Skilled Trades & Future-Ready Skills
Ignite middle schoolers’ interest in skilled trades with hands-on learning and real-world projects that build future-ready skills.
Content provided by Project Lead The Way

EdWeek Top School Jobs

Teacher Jobs
Search over ten thousand teaching jobs nationwide — elementary, middle, high school and more.
View Jobs
Principal Jobs
Find hundreds of jobs for principals, assistant principals, and other school leadership roles.
View Jobs
Administrator Jobs
Over a thousand district-level jobs: superintendents, directors, more.
View Jobs
Support Staff Jobs
Search thousands of jobs, from paraprofessionals to counselors and more.
View Jobs

Read Next

Education Opinion The Opinions EdWeek Readers Care About: The Year’s 10 Most-Read
The opinion content readers visited most in 2025.
2 min read
Collage of the illustrations form the top 4 most read opinion essays of 2025.
Education Week + Getty Images
Education Quiz Did You Follow This Week’s Education News? Take This Quiz
Test your knowledge on the latest news and trends in education.
1 min read
Education Quiz How Did the SNAP Lapse Affect Schools? Take This Weekly Quiz
Test your knowledge on the latest news and trends in education.
1 min read
Education Quiz New Data on School Cellphone Bans: How Much Do You Know?
Test your knowledge on the latest news and trends in education.
1 min read