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India is at the pinnacle of economic development. Its working-age population is the second largest in the world. The ratio of old and young dependents to workers will be Less For many years to come. To benefit from this demographic dividend, India must stop copying the Western model of higher education.
American colleges and universities are the envy of the world. Students come from everywhere. Institutions of higher education are being promoted in advanced economies AmericanizedPrinceton and Stanford are ideal for this World-class universities In emerging market economies, imitation is the greatest form of flattery. But such flattery is undesirable for two reasons. First, the American model of higher education is becoming outdated. Second, attempting to copy that outdated model is impossible in India.
Educational achievement is a means to other ends—an informed citizenry, an egalitarian society, and a productive workforce. After World War II, U.S. college education Ugh In an effort to democratize it and make it a useful adjunct to government military and socio-economic policy. However, a deeper malaise now afflicts it. American higher education is no longer the royal road to knowledge, equality, or employment.
In 1947, five percent of the U.S. population had completed college. thirty eight percent Today, about 100 Americans do so. All Members of the US Congress have college degrees. A highly educated Congress and a better educated public have not produced more enlightened politics. Instead, Government procrastination And Political polarization Such a transformation in American politics had perhaps never occurred before in the post-war years.
It is equally wrong to expect that education provides a ladder to economic equality and social equity. Income inequality in the US has increased substantially Groan Over the past half century, while the population has become more educated, higher education Increase Rather than diminishing the benefits of privilege, they must be valued more.
The relationship between education and employment is not as clear-cut as it may seem. In the US, many college graduates are employed in low-skill jobs. more than half 10 percent of them are underemployed in their first job. Remarkably, about 45 percent are still underemployed ten years later. On average, college graduates earn in 2022 What They did so in 1990. The so-called premium for a college degree is an artifact Declining Salary for high school diploma.
Americans are beginning to realize that more education does not necessarily produce informed citizens, an egalitarian society, or an equally employed workforce. This is one reason why enrollment in American colleges and universities has declined. Declining For more than a decade.
The American model of higher education is not only outdated but also unrealistic for India. It is conventional economic wisdom that a higher dose of higher education leads to faster economic growth. Increasing the gross enrolment rate in higher education is considered a necessary turning point on the path to increasing GDP. Unfounded optimism is sometimes necessary to make dreams come true. But untested projections often lead to a dream world.
A cursory analysis of the underlying facts suggests caution. 43 million Indian youth are now enrolling in higher education institutions. In six years, the number of youth going to college will exceed 1000 million. 200 millionIt is impossible to expand the Indian higher education infrastructure rapidly enough to accommodate and educate such large numbers of people.
Apart from this, the number of potential workers in India will also increase. 1.4 billion By 2030. A little more than that half 10% of the current working age population is employed. ninety percent Most of them work in the informal sector. The lack of jobs in the formal economy means that the number of Indian college graduates is disproportionately high. Unemployed And SemiAnd the bad thing is that less than half of them are people who ServiceableHigher education certificates may not increase relevant skills. But they do raise expectations about economic opportunities and social equality. And disappointed expectations foster a restless population.
Proper treatment must always be preceded by a thorough diagnosis. Yet it is already clear that it is premature, impractical and therefore inappropriate for India to copy the Western model of higher education. Confining young people in academic institutions before sending them to the workplace is a prejudice that must be discarded. So too is the notion that paid service providers should replace self-reliant farmers and artisans. India needs to innovate, not copy. Real innovation requires us to think beyond what we know. The good news is that India is full of talent, energy and ideas to invent yet unknown and unexplored paths to its promising future.
(Author Sajay Samuel is MBA Faculty Director and Clinical Professor of Accounting at Penn State University. Views expressed are personal.)
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