A Crisis of Human Capital

The year is 2030. You’re a parent to a five year old, and you’re deciding what to do about schooling for your child. You ask around about the options, and here are the answers you have been provided. Option number one, you can be your child’s teacher. You can join the local homeschooling network. This option doesn’t seem feasible to you because you work full-time and would have to hire a private homeschool teacher in order to make that work. You certainly cannot afford to do that.

Option number two is to send them to one of the private schools. These schools are seemingly bulging at the seams with average class sizes around 35, but they do provide a qualified and certified teacher to lead the learning. The only problem is that the price of tuition would absorb at least 60% of your yearly salary, and you aren’t sure how to make that work given your housing and food costs as well.

The third option is the public school in town. While still free to you and your family, you have not heard great things. You decide to go visit, though, because the first two optio