Investing in brains

01-25-2010

The Economist

In California the students are revolting—not against their teachers, but in sympathy with them. The state’s governor, Arnold Schwarzenegger, has cut $1 billion, some 20% of the University of California’s budget, as he tries to balance the state’s books. Fees may rise by a fifth, to over $10,000. Support staff are being fired; academics must take unpaid leave. That is part of a global picture in which cash-strapped governments in the rich world are scrutinising the nearly 5% of GDP they devote to education. Those budgets may not be the top candidates for the chop, but they cannot fully escape it. Just before Christmas the British government said it planned to reduce spending on higher education, science and research by £600m ($980m) by 2012-13, just as a chilly job market is sending students scurrying to do more and longer courses. (more...)

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