Education is not ordinarily thought to be in the purview of a Federal Reserve chairman. So it's striking when Alan Greenspan in his memoir, "The Age of Turbulence," raises the subject.
"Our primary and secondary education system," he writes, "is deeply deficient in providing homegrown talent to operate our increasingly complex infrastructure." The result: "Too many of our students languish at too low a level of skill upon graduation, adding to the supply of lesser-skilled labor in the face of an apparently declining demand."
So if you're concerned about widening disparities in income, Mr. Greenspan tells readers attracted to his book by its publicists' promise of criticism of George W. Bush, you need to "harness better the forces of competition" in educating kids.
November 13, 2007
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