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Education and training in an era of creative destruction

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  • Leonard I. Nakamura

Abstract

Over the course of the 20th century, the U.S. economy has moved from rote to creativity, from a mass production workforce to a white-collar workforce whose focus is developing new products for sale. In the process, economic change has been accelerated, so that our educational process and goals are increasingly inappropriate. As an example, even the intensive education of medical doctors is inadequate to the current pace of change. In this paper, the author delineates the impact of the electronic revolution that has automated routine and made creativity more profitable and therefore more powerful. The author examines the high school movement (1910-1940) and the college movement (1940-1970) as successful responses to technological challenges that increased equality. The author then attempts a tentative discussion of the electronic revolution's impact on the educational process.

Suggested Citation

  • Leonard I. Nakamura, 2001. "Education and training in an era of creative destruction," Working Papers 00-13, Federal Reserve Bank of Philadelphia.
  • Handle: RePEc:fip:fedpwp:00-13
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    File URL: http://www.philadelphiafed.org/research-and-data/publications/working-papers/2000/wp00-13.pdf
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    References listed on IDEAS

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    1. Leonard I. Nakamura, 2000. "Economics and the new economy: the invisible hand meets creative destruction," Business Review, Federal Reserve Bank of Philadelphia, issue Jul, pages 15-30.
    2. Leonard I. Nakamura, 1999. "The measurement of retail output and the retail revolution," Canadian Journal of Economics, Canadian Economics Association, vol. 32(2), pages 408-425, April.
    3. Robert E. Hall, 2001. "The Stock Market and Capital Accumulation," American Economic Review, American Economic Association, vol. 91(5), pages 1185-1202, December.
    4. Dora L. Costa, 1997. "Less of a Luxury: The Rise of Recreation since 1888," NBER Working Papers 6054, National Bureau of Economic Research, Inc.
    5. Scherer, F. M. & Harhoff, Dietmar, 2000. "Technology policy for a world of skew-distributed outcomes," Research Policy, Elsevier, vol. 29(4-5), pages 559-566, April.
    6. Leonard I. Nakamura, 1995. "Measuring inflation in a high-tech age," Business Review, Federal Reserve Bank of Philadelphia, issue Nov, pages 13-25.
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    Cited by:

    1. Leonard I. Nakamura, 2001. "What is the U.S. gross investment in intangibles? (At least) one trillion dollars a year!," Working Papers 01-15, Federal Reserve Bank of Philadelphia.

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    Keywords

    Education;

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