The dire states of the current global economy and solutions

There are various problems we are facing currently.

Economy On Top of all

Economy On Top of all

Personally, I don´t like to think about economical issues, but the world we are living in depends on the economics so much that I found it I had to deal with the economic issues. What kind of economic crises are you aware of?

Take Action. USL campaign starts

Take Action. USL campaign starts

 

  1. For the past 6 years or so, the global recessions are very palpable to many of us.
  2. The national debts around the globe in most of the developed countries are striking with the increasingly more debt crises
  3. For instance, the USA debt is more than the annual GDP.
  4. The global debts are much higher than the global GDP currently.
  5. The student loan debts which is also increasingly getting worse. In the USA alone, the student loan debts were over 1.2 Trillions of usd.
  6. The global economic crises have very deep domino effects in all our lives.
  7. All the MDGs (Millenium Development Goals) from the UN: we managed to halve many of the severe problems, but we have far more problems unresolved than what we have resolved.
  8. About 1/5 or 1/6 of the world population is living in the extreme poverty (earning at most $1.25 per day.
  9. The increasing inequity around the globe (85 of the richest people on earth have as much money as the poorest 3.5 Billions of people on earth (the poorer 50%).
  10. The MDGs heavily relied on the donations of a couple of dozen richest countries on earth to end the extreme poverty-related isseus on earth and wind up getting only about 1/3 of what they expected to get as the donors didn´t keep their promises. There is a better way, much better way called URF that USL is trying to propose.

The list goes on and on, but I would like to focus primarily on the MDGs here for the first a few or several years at least.

the global map: GDP per capita gap 2013

the global map: GDP per capita gap 2013

For the solutions we propose, please visit here: USL tries to resolve all these by revolutionizing the math education extremely quickly, which will trigger the massive human capital values, which will boost the global economy of the participating member nations via UN´s new international treaty, which contrain the global economic boosts only based on their contributions to help the causes of the most critical a few dozen global crises.

 

note: currently, USL is pursuing the first series of USL-URF to revolutionize the world from math education à human capital boost à (collaborate with UNESCO/UN to make this happen much faster) à boosting GDPs à Reducing the global inequality  à protecting the environments à making a much better world.

  • 1 Standard deviation of math differences in PISA (or TIMMS) = 100 points in PISA = 2.3 years of math = 2% of Per Capita GDP increases
  • 85 points of PISA math = about 2 years of school year differences of  math = 1.8% of Per Capita GDP boosts
  • First we will boost the 2 year math levels for the URF participating countries. After this goes global, we will continue releasing the next series to uplift the global math by over 10 years of the normal schoolings of math within 10-20 years, depending on the supports of the global community.

 

The time lag for the URF effects to become very tangible: 

In the following analysis, we assumed that the reform of USL-URF for advancing 2 year math take about 2-4 years  instead of the typical reform years that Professor Hanushek and Woesmann assumed in their analyses. Since the URF reforms will be so quick that we present here the charts after a few several reforms take place. So when you look at the charts, please assume that there will be 2-4 years of reform years, and so these charts take place after these 2-5 years and would be no immediate kick in effect.

Also, depending on the current economy of particular countries, the reform time will be a bit different:

  • For the poorer, least developed countries, the reforms may literally take 2-4 years as the majority of students there – if they are lucky – finish their education with only grade 4-6.
  • For the mid-tier, developing countries, the reforms may literally take 4-8 years as the majority of students there – if they are lucky – finish their education around the grades 5-9 and only 5-15% of the students may enter tertiary education.
  • For the developed countries, the reforms may take 6-12 years as the majority of students graudate from high school

Later after the second or third series of URF, the entire  URF reforms may take 10-15 globally.

 

one of the possible timelines of URF reducing the global inequity very rapidly

one of the possible timelines of URF reducing the global inequity very rapidly

 

For the math proficiency impacts on the GDP growths, we relied much on the works by Hanushek and Woessmann (although not exclusively and used a bit different methodologies as well.)

References to the works by E. Hanushek and L. Woessmann

Growth/Economic Impact

Education quality and economic growth (World Bank, 2007) 

High Cost of Low Educational Performance – OECD (OECD, 2010)

Do better schools lead to more growth? Cognitive skills, economic outcomes, and causation

HOW MUCH DO EDUCATIONAL OUTCOMES MATTER IN OECD COUNTRIES?

 

Education Quality and Economic Growth. Eric A. Hanushek, Ludger Woessmann. Washington, DC: World Bank, July 2007, 27 pages.

 

Is the U.S. catching up? International and state trends in student achievement. Eric A. Hanushek, Paul E. Peterson, Ludger Woessmann. Education Next, 12(4), Fall 2012, pp. 24-33.