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New Education Business - Scale, Access and Relevance

There are two problems in modern education - access and relevance.  Access is an economic issue, and it is mainly a developing country issue. The developed countries mostly have access issues sorted out, through various funding mechanisms, particularly educational loans. In developing countries, however, a number of issues come in the way of access, including physical (there are no schools to go to), social (people of certain caste, class or gender are not welcome) and indeed, financial (one can not pay for school or afford to be in the school).  Relevance, on the other hand, is a more complex issue, and afflicts developed countries as well as the developing. At one level, educational relevance is about whether the person is getting educated at all, and we know that many people come out of school/ college not being able to do even the basic tasks meant for that level of education. And, at another, related, level, education does not deliver the expected outcome, job, ...

Exponential Education

Investing in education is the rage. Given that there is a really big problem globally - of educational access as well as educational relevance - investing to create solutions that can scale is naturally attractive. At the same time, however, education does not scale very well, given the regulation, cultural barriers and deeply held conservatism that come with it. The current models of education, the ideal of personalised instruction, models of exclusive privilege, the idea of deep thinking away from the humdrum of daily life, the connotation of cultural development as a slow process, are all anti-scale. In fact, many people will privately deride any goals of scaling education, the idea that education is only for a privileged few is so entrenched. The investors in new educational models put their faith on technology. Technology can help scale the classroom and beat the cost disease of education, as conceptualised by economists William Baumol and William Bowen. The point is to r...