McKinsey released an important study on the American achievement gap—a gap between American and other developed countries, a gap between races, a gap between income groups, and a gap between schools, districts and states. Low achievement levels amount to a permanent recession.
Using an economic model created for this study, McKinsey showed how much those gaps are costing us. Suppose, it noted, “that in the 15 years after the 1983 report ‘A Nation at Risk’ sounded the alarm about the ‘rising tide of mediocrity’ in American education,” the U.S. had lifted lagging student achievement to higher benchmarks of performance? What would have happened?
The answer, says McKinsey: If America had closed the international achievement gap between 1983 and 1998 and had raised its performance to the level of such nations as Finland and South Korea, United States G.D.P. in 2008 would have been between $1.3 trillion and $2.3 trillion higher. If we had closed the racial achievement gap and black and Latino student performance had caught up with that of white students by 1998, G.D.P. in 2008 would have been between $310 billion and $525 billion higher. If the gap between low-income students and the rest had been narrowed, G.D.P. in 2008 would have been $400 billion to $670 billion higher.
For more, go to Education Equality Project