WEEK 2_4

Globalisation, Markets and Education

The Knowledge Economy

• The knowledge economy is a globalist economy linked by technologies and operating on a single time unit.

• Relies primarily on:

  • Use of ideas rather than physical abilities.

  • Application of technology over transforming raw materials or exploiting cheap labor.

• Knowledge and information have become key sources of value in the global economy.

Transforming the World of Work

• Knowledge economy reshapes labor market demands globally.

• Traditional educational systems focused on teacher-led knowledge delivery are inadequate in equipping individuals for the knowledge economy.

Lifelong Learning

• Lifelong learning shifts from memorization to discovery, problem-solving, and design.

• New curricula and teaching methods needed to foster this change, emphasizing:

  • Formal, non-formal, and informal education.

  • Competency-driven education rather than age-based.

  • Accessibility for people with diverse learning needs.

• Lifelong learning encompasses the entire lifecycle from early childhood to retirement.

Norms and Standards for Teachers

• Reflect on whether the norms and standards for teachers fit the needs of the knowledge economy.

Present and Future of Education

• Requires a significant shift in educational approaches:

  • Emphasize skills, technology integration, innovation, collaboration, and adaptability to prepare individuals for the knowledge economy.

Theoretical Understanding

What is a Theory?

• An abstract description of relationships between concepts helping to understand the world.

What is Human Capital Theory (HCT)?

• Views individuals as economic assets.

• Emphasizes investment in education, training, and healthcare for productivity enhancement.

• Recognizes human capital can depreciate without continuous development.

Assumptions of Human Capital Theory

• Investment in human capital through education, training, and healthcare improves productivity.

• Economic growth results from these productivity improvements, leading to higher earnings and quality of life for individuals and a more skilled workforce for societies.

Critiques of Human Capital Theory

1. Overemphasis on individual responsibility affects systemic issues.

2. Measurement issues can complicate evaluation.

3. Neglect of social capital in access to opportunities.

4. Economic determinism can oversimplify interactions.

5. Reinforces inequality through unequal access to education.

6. Static perspective overlooks evolving labor markets.

7. Critique of wage premium tied only to education level discounts broader factors.

8. Ignores quality of education over mere access.

Goals and Purposes of Modern Schooling

• Evaluate current educational objectives within society's context.

• What should be the goals for schooling in a continually evolving landscape?

Goals of Education

• Key aims include:

  • Critical thinking and creativity.

  • Lifelong learning enthusiasm.

  • Civic and social responsibility.

  • Emotional growth and well-being.

  • Equity and social justice, reducing inequalities.

Caution Against Simplistic Interpretations

• The link between education, economy, and labor market must be understood through complex analyses that incorporate social, political, and ethical challenges.

Setting an Agenda for Global Times in Education

• Broad educational goals:

  1. Systematic teaching and learning.

  2. Active global participation.

  3. Individual developmental focus.

Local vs Universal Knowledge

• Knowledge is socially and culturally structured, creating a paradox between valuing local knowledge and encompassing universal principles.

• Young learners benefit most from education in their mother tongue to grasp cultural meanings and symbols.

Bantu Education Act

• Historical context highlights significant challenges, where the Act served to reinforce racial inequality and disadvantage within education, creating long-lasting socioeconomic repercussions.

Impacts of the Bantu Education Act

• Generational disadvantage due to systemic inequality.

• Suppression of aspirations among black youth due to limited educational quality.

• Reinforcement of apartheid ideologies through segregated educational practices.

Global and Local Educational Approaches

• Debate on the importance of blending local knowledge with global educational frameworks for effective schooling.- Active participation and bridging individual development with societal needs is critical in preparing students for global citizenship.

OECD Scenarios for the Future of Schooling

• Scenario analysis explores possibilities from maintaining the current system to dismantling it in favor of alternative models, emphasizing the need for adaptability in educational practice.