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Thursday, November 3, 2011

NIALL FERGUSON: Hey, Protesters, Stop Blaming Wall Street -- The Problem Is Our Crappy Education System

NIALL FERGUSON: Hey, Protesters, Stop Blaming Wall Street -- The Problem Is Our Crappy Education System: "It's globalization that mainly causes inequality by exposing the unskilled in the United States to competition from much cheaper labor in Asia," he says. "That's a much bigger cause of inequality than malpractice on Wall Street."
Ferguson blames the lack of skilled workers in this country on a "very poor public education at the high school level. We are failing kids in the poorer parts of this country."
The remedy, Ferguson contends, is not to tax the rich and expand federal programs as Sachs recommends. Instead, Ferguson says public high schools need more competition to raise the bar. The best way to do that, in his opinion, is to create more charter schools. "

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