We don’t need no… oh, wait. Yes, we do. (@pwc_AU)Posted: February 11, 2015
The most important thing about having a good idea is not the idea itself, it’s doing something with it. In the case of sharing knowledge, you have to get good at communication or the best ideas in the world are going to be ignored. (Before anyone says anything, please go and review the advertising industry which was worth an estimated 14 billion pounds in 2013 in the UK alone. The way that you communicate ideas matters and has value.)
Knowledge doesn’t leap unaided into most people’s heads. That’s why we have teachers and educational institutions. There are auto-didacts in the world and most people can pull themselves up by their bootstraps to some extent but you still have to learn how to read and the more expertise you can develop under guidance, the faster you’ll be able to develop your expertise later on (because of how your brain works in terms of handling cognitive load in the presence of developed knowledge.)
When I talk about the value of making a commitment to education, I often take it down to two things: ongoing investment and excellent infrastructure. You can’t make bricks without clay and clay doesn’t turn into bricks by itself. But I’m in the education machine – I’m a member of the faculty of a pretty traditional University. I would say that, wouldn’t I?
That’s why it’s so good to see reports coming out of industry sources to confirm that, yes, education is important because it’s one of the many ways to drive an economy and maintain a country’s international standing. Many people don’t really care if University staff are having to play the banjo on darkened street corners to make ends meet (unless the banjo is too loud or out of tune) but they do care about things like collapsing investments and being kicked out of the G20 to be replaced by nations that, until recently, we’ve been able to list as developing.
PricewaterhouseCoopers (pWc) have recently published a report where they warn that over-dependence on mining and lack of investment in science and technology are going to put Australia in a position where they will no longer be one of the world’s 20 largest economies but will be relegated, replaced by Vietnam and Nigeria. If fact, the outlook is bleaker than that, moving Australia back beyond Bangladesh and Iran, countries that are currently receiving international support. This is no slur on the countries that are developing rapidly, improving conditions for their citizens and heading up. But it is an interesting reflection on what happens to a developed country when it stops trying to do anything new and gets left behind. Of course, science and technology (STEM) does not leap fully formed from the ground so this, in terms, means that we’re going to have make sure that our educational system is sufficiently strong, well-developed and funded to be able to produce the graduates who can then develop the science and technology.
We in the educational community and surrounds have been saying this for years. You can’t have an innovative science and technology culture without strong educational support and you can’t have a culture of innovation without investment and infrastructure. But, as I said in a recent tweet, you don’t have to listen to me bang on about “social contracts”, “general benefit”, “universal equity” and “human rights” to think that investing in education is a good idea. PwC is a multi-national company that’s the second largest professional services company in the world, with annual revenues around $34 billion. And that’s in hard American dollars, which are valuable again compared to the OzD. PwC are serious money people and they think that Australia is running a high risk if we don’t start looking at serious alternatives to mining and get our science and technology engines well-lubricated and running. And running quickly.
The first thing we have to do is to stop cutting investment in education. It takes years to train a good educator and it takes even longer to train a good researcher at University on top of that. When we cut funding to Universities, we slow our hiring, which stops refreshment, and we tend to offer redundancies to expensive people, like professors. Academic staff are not interchangeable cogs. After 12 years of school, they undertake somewhere along the lines of 8-10 years of study to become academics and then they really get useful about 10 years after that through practice and the accumulation of experience. A Professor is probably 30 years of post-school investment, especially if they have industry experience. A good teacher is 15+. And yet these expensive staff are often targeted by redundancies because we’re torn between the need to have enough warm bodies to put in front of students. So, not only do we need to stop cutting, we need to start spending and then commit to that spending for long enough to make a difference – say 25 years.
The next thing, really at the same time, we need to do is to foster a strong innovation culture in Australia by providing incentives and sound bases for research and development. This is (despite what happened last night in Parliament) not the time to be cutting back, especially when we are subsidising exactly those industries that are not going to keep us economically strong in the future.
But we have to value education. We have to value teachers. We have to make it easier for people to make a living while having a life and teaching. We have to make education a priority and accept the fact that every dollar spent in education is returned to us in so many different ways, but it’s just not easy to write it down on a balance sheet. PwC have made it clear: science and technology are our future. This means that good, solid educational systems from the start of primary to tertiary and beyond are now one of the highest priorities we can have or our country is going to sink backwards. The sheep’s back we’ve been standing on for so long will crush us when it rolls over and dies in a mining pit.
I have many great ethical and social arguments for why we need to have the best education system we can have and how investment is to the benefit of every Australia. PwC have just provided a good financial argument for those among us who don’t always see past a 12 month profit and loss sheet.
Always remember, the buggy whip manufacturers are the last person to tell you not to invest in buggy whips.