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Wednesday, December 04, 2013 

Without better education for Haredis, economy will be harmed

The Bank of Israel said that lack of better education for Haredis can undermine the financial growth of the country:
Unless the haredim (ultra-orthodox) acquire more higher education, Israel will fall sharply in the OECD rankings, says the Bank of Israel in a new study. "Without the convergence of education among the ultra-Orthodox, Israel is expected to fall from 16th to 26th place among OECD member countries in the average number of years of schooling among the population," it states.

"Long-term growth forecasts show that the demographic changes currently taking place in Israel are expected to slow the growth rate of the economy compared to previous decades," warns the Bank of Israel. "An accepted and practical way to measure the stock of human capital in the economy involves looking at the average years of schooling among the population and combining it with estimates of the returns to schooling - the extent to which the number of years of schooling affects human capital and income in the economy."
They've made another valid point for good educational curriculum, which the education ministry will do well to make sure is implemented.

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