People, companies, and governments should invest when it’s cheap to do so.
Most commentators have been focusing on the need to invest in U.S. infrastructure. While more infrastructure investment is certainly worthwhile, these two stories reminded me that our human capital investments are crumbling as well.
- Catherine Rampell’s article noting that only 1 in 6 of high school graduates without a college degree (who aren’t enrolled in college) have a job.
- Maggie Severns has an oped on the enormous costs of failing to provide adequate resources for English as a second language students, who comprise a large and growing share of America’s youth and future workforce.
Interest rates are at historic lows. Our human capital needs are enormous. It is time to invest.