State 'gains 10 times what it pays for students'

[Darwinsbulldog]

[Lazy student bastards! ]

UK graduates contribute to the economy almost 10 times what it costs the state to educate them to degree level, research suggests.
An IPPR think tank and UCU academics union report suggests graduates bring in £180,000 more than those with A-levels over their working life.
An average degree costs the state just under £18,800 per student.
It warns that reforms leading to fewer graduates will limit the UK's ability to compete globally.
The study, Further, Higher? Tertiary Education and Growth in the UK's New Economy, is published as the University and College Union meets for its annual congress in Manchester.
It notes that in 2000 the UK had the third highest number of graduates among advanced industrialised nations.
Jerry Hardcastle, Nissan, on mechanical engineering graduates
By 2008 it had fallen to fifteenth because competitor nations had been investing at a faster rate, the report says.
It gives the example of China which quadrupled its number of graduates between 1999 and 2005 and is expected to become the world's largest producer of PhD scientists and engineers.
And India is planning 800 new higher education institutions by 2020, the report adds.
At the same time, it notes: "Recent research has suggested that the number of students graduating in the UK is likely to fall further following tighter restrictions on student numbers, with 15,000 fewer higher education places in September 2012 compared with the previous year and around 25,000 fewer places in English universities."
It adds: "Recent UK reforms to the higher education system have led to reductions in courses available in key areas such as science, technology, engineering and mathematics (STEM) skills.
"A recent study found that the provision of single subject STEM courses has gone down by 15% over the past six years in England. This is concerning."
The report quotes car manufacturer Nissan's head of design and development Jerry Hardcastle, who issues a stark warning about the UK's economic future.

More:-
http://www.bbc.co.uk/news/education-18353539

[Loki]

They should get a sensible system like ours, where students pay for the privilege. Bloody goodfornothing layabouts. Nothing spells "successful developed country" like an economy dependent on digging things up and shipping them offshore for processing.

[Darwinsbulldog]

Originally Posted by Loki

They should get a sensible system like ours, where students pay for the privilege. Bloody goodfornothing layabouts. Nothing spells "successful developed country" like an economy dependent on digging things up and shipping them offshore for processing.

Yeah, unless China stop buying our ores. We will always have a two speed economy until we learn to diversify and shoulder the cost of industries that don't make massive profits. Then, when mine sales are lean, we get an economy that keeps turning over and making modest profits. Obvious to anyone except an economist or politician.
Governments have to govern, and in a coordinated and cooperative way to moderate corporate profits. Governments are supposed to fix what cannot be fixed by the market.
And less top-down stimulii. The mass of people must have money-not the banks. But at the moment in the world, it is only the banks getting the dole. Money moving from bank to bank does sweet fuck all. For companies to make profits people have to have disposable income. Instead, in Greece, Italy, Spain, Ireland, etc, we have disposable people.
Its life boat ethics with banks, large corporations and governments the only ones with tickets for the life boat.
Bottom-up is real stimulus because people have to pay their mortages anyway, so the banks get their money. If people have money to pay their mortgage, and some left over, then they buy good and services and companies and corporations increase production and make profits. Corporations are not people, and can be dictated to if the laws were changed to stop them being treated as people with rights. A corporation that makes 10 billion dollars profit, and offloads 10,000 workers is putting a double wammie cost on the community: by making goods/services too expensive, and by saddling the government with income support payments or retraining. Either way, there is a delay of these workers getting back to work.
Ten billion dollar profits in a finite money supply means somebody else is starving, somewhere in the world. When the price of wheat or rice skyrocketed, parts of Africa or asia starved. Now it is happening in Europe: Greece, Spain, Italy etc.
In the USA ,Médecins Sans Frontières had to intervene in the South. Globalisation should not, and cannot mean corporatisation, yet that is exactly what is happening. Hence the riots, it is not all hoons and thugs. Humans are now resources, like paper clips. No tenure for anyone, no matter how hard you work or how competant you are. Because if you are not helping a corporation make maximum profit ALL the time, then you are disposed of. That is "efficiency". This is true from doctors to truckies. Doctors and truckies have to sleep, and there are laws that they should sleep. But they don't. To make a profit a truckie has to break the law. Doctors don't get enough sleep. Not because there are too few doctors, but because one doctor's work is given a different monetary value to anothers. Not all specialists waste time on the golf course, but enough of them do that to make a junior doctor's role in a public hospital hell on Earth.
Sure, a specialist has to be paid more than a GP, because they take longer to train, and that costs time and money. But not so much as to explain the difference in salaries and working conditions between the two groups.
The market does not price things properly. The world is finite, and so resources are finite, so growth in the economy [at least in traditional ways], cannot be sustained. Full world economics, where energy efficiency [in consumption] and more renewable energy sources is manditory, not matter how much industry and some politicians bleat in protest. It is as much a fact as gravity. The world economic and financial system is assuming "empty world economics"-it is a total delusion. Only governments can fix this, not the market. Coal is capital energy, sunlight is income. We get it every day. So it does not matter a fuck if solar enegy cost a billion dollars per watt, it has to be used. But it won't, because so long as coal is there, and can be dug out cheaply, the market will want to do it.
The ONLY rational use now of coal or oil or gas or fission energy is to make renewable energy infrastructure: good batteries, solar cells, wind turbines, geothermal, tide power, hydroelectric dams, and so on. Anything else is folly. This could be the new world boom: full world economics that makes sense.
But it wont happen. We are E.coli on a petri dish, running out of citrate. The only difference is, we know the citrate is running out, and we are doing fuck all about it.

[AustralAlien]

I'm about to embark on a second degree, does this mean I may end up contributing more than 20 times what I was originally paid? Please? I need the cash... :P