“The oil and gas boom has revealed a shortage of skilled labor. Some educational institutions are responding. But should the industry itself enter into the educational field and form for-profit training programs? Such would further remove the need for government (taxpayer) education, a win-win for the economy.”
Julian Simon said it first and best: the scarcest resource is human capital. His proof? The rising cost of labor relative to other inputs, even so-called depletable resources. And such is a mighty tribute to capitalism, as David Boaz noted.
A recent article in the Houston Chronicle, “San Jacinto College’s fast-track pipefitting fabricator program responds to industry need“ (Cheryl P. Rose, June 28, 2013) made me think of Simon, the hydrocarbon-energy boom, and the purpose of education.
We will soon have the Internet capability of getting a world class education at virtually zero marginal cost.…