Dr. Joseph Stiglitz, 2001 Nobel Laureate in Economic Sciences and former Chief Economists of the World Bank, indicated the root cause of recent financial system flaws are "socializing risk, privatizing profit." (2008, United Nation)
Thus, he recommended stop socializing risk and stop privatizing profit.
http://www.un.org/wcm/content/site/chronicle/cache/bypass/home/archive/issues2008/pid/5105?ctnscroll_articleContainerList=1_0&ctnlistpagination_articleContainerList=true
Therefore, we have to "stop socializing education cost and stop privatizing profit from public education."
Tax cut, for example,is the most critical misconduct for 'socializing education cost and privatizing profit,' and it should be stopped.
Education and Training for human community is the core 'social agreement.' Thus, we need to protect this value in order to keep and flourish whole human community.
Jeonghwan. Philip. Choi
April 17, 2011
Thus, he recommended stop socializing risk and stop privatizing profit.
http://www.un.org/wcm/content/site/chronicle/cache/bypass/home/archive/issues2008/pid/5105?ctnscroll_articleContainerList=1_0&ctnlistpagination_articleContainerList=true
I want to elaborate Dr. Stiglitz's insight into Education and Training.
In order to recover humanistic communities, "Stop socializing Education Cost, and Stop privatizing profits from public education."
Contemporary education issues such as collapsing public education and less skilled workforce primarily come from the lack of education budgets. Those discrepancies of education or training budget are mainly stem from the privatizing profit which come from educated or skilled people in public education. The cost of education and training are paid by general public people or family, but the profits, benefits, and pay-offs from publicly or individually paid education and training costs are privatizing for fistful number of business people.
Therefore, we have to "stop socializing education cost and stop privatizing profit from public education."
Tax cut, for example,is the most critical misconduct for 'socializing education cost and privatizing profit,' and it should be stopped.
Education and Training for human community is the core 'social agreement.' Thus, we need to protect this value in order to keep and flourish whole human community.
Jeonghwan. Philip. Choi
April 17, 2011
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