Economist Jeffrey Sachs’ Call for Global Education Investment

Global Education
Macroeconomist and Columbia University professor Jeffrey Sachs has been hailed by Time Magazine as one of the 100 most influential world leaders of our time. Best known for his New York Times Bestseller “The End of Poverty,” Sachs recently published a statistically rich article on Project Syndicate calling for the U.S. to increase its support for global education.

Sachs is currently the director of the U.N. Sustainability Development Solutions Network. Sachs once optimistically claimed, “extreme poverty can be ended not in the time of our grandchildren, but in our time.” His call for increasing access to global education is expressed primarily in tandem with his focus on meeting the U.N. Sustainability Goals by 2030.

A Global Fund for Education (GFE), a coalition that would bring together wealthy countries to collaboratively provide financial assistance to countries that need it the most is, for Sachs, the essential key to doing so. Yet, Sachs’ presents startling statistics representing an enormous imbalance in U.S. priorities and an overt militarization in its defense strategy. Moreover, the numbers signal the United States’ negligence. in pursuing a successful strategy towards eradicating poverty.

According to Sachs, roughly $1 billion per year is spent on supporting global education where approximately $900 billion is spent on military-related programs. These military programs included in the sum constitute the Pentagon, CIA, Homeland Security, nuclear weapons systems and veterans’ programs.

Sachs claims that an extra $45 billion per year would guarantee children access to education, one that would allow them to be literate, and minimize risk from joining gangs, drug traffickers and jihadists — all elements that encourage a more dangerous global terrain.

In another article published on Project Syndicate, Financing Health and Education for All, Sachs claims that if the U.S. followed in the footsteps of Sweden, Denmark, Norway, the Netherlands, Luxembourg and the United Kingdom in supporting health and education, the U.S. could add roughly $90 billion per year to global funding. The extra $45 billion per year then, would offer an easy and complete fix to the eradication of poverty by 2030.

The U.S. could also utilize $90 billion of the $900 billion allocated to military projects towards development aid. These steps would promote the U.S.’s national security as well as give the 200 million children currently out of school the opportunity to become literate and contribute to their own country’s economies.

The Global Fund for Education, if implemented, would allow low-income countries to submit proposals for support where if approved would receive both financial funds and monitoring of its implementation.

Bolstering educational systems and the world’s youth in an increasingly knowledge-based economy will increase the U.S.’s national security and alleviate poverty by 2030. Sachs’ optimism then is not misplaced — so long as the U.S. as well as other wealthy countries reform their strategies.

Priscilla Son

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