Education is the best investment not only for workers but also for the economy in a time of continuing competitive strain, Federal Reserve Chairman Ben Bernanke said Monday.
“Education – lifelong education for everyone – from toddlers to workers well advanced in their careers – is indeed an excellent investment for individuals and society as a whole,” said Bernanke. He spent most of his professional life as a teacher and is married to one.
Economists have long recognized that the skills of the work force are an important source of economic growth, the Fed chairman said in a speech.
Although the United States has long been a leader in expanding educational opportunities, it also has long grappled with challenges such as troubling high-school dropout rates, particularly for minority and immigrant youths, as well as frustratingly slow and uneven progress in raising test scores, he said.