One of the reasons Latin America is doing better this decade is because a lot of its elite has been educated at the best universities in the world, mostly in the US. One example is Marcos Galperin who built Mercado Libre into a multibillion dollar market cap Nasdaq giant, something that I think would have been hard for him to do without a US education. And there are many, many others. For decades now the Latin American elites were educated in the US and now they are finally in charge of the most productive sectors of the local economies.
Maybe Spain should do the same. The Spanish education system kills the imagination of the best and brightest students. I know this because we have had to re educate many of these students at the companies I started in this country including Jazztel, Ya.com and Fon. We have companies that are also universities in a sense, whose graduates go and build other companies that are more in tune with the digital era. There are some exceptions, especially in business studies with IE and IESE ranking very well globally but the average education available to Spaniards is very mediocre with no Spanish Universities in global rankings.
Now it so happens that it is not that expensive to send Spanish students to study abroad. Some Spanish corporations already give grants for this. Indeed just today I signed a recommendation letter for a Fon employee to study at Stanford partly financed by Caja Madrid and I hope they take him. But this could happen at a much more massive scale if the focus was Northern Europe. Studying in the UK with a pound at 1.19 is not as expensive as it used to be. Tuition is low for the quality of education they give. Indeed you can get a whole education in the UK for the cost of a year of studying in the US. Sending thousands of Spanish students to study in the UK, in the Netherlands, Germany and other Northern European countries who are doing better than Spain, could be a way to leapfrog many of the antiquated and dated Spanish professor body who with some notable exception is destroying a generation of Spaniards. It is also a good investment since education runs a big deficit and an 18 year old who studies abroad gains this education. Yes, there is a risk that they may stay but if they do it is not brain drain which is what happens when a country invests in a university education, as India many times does, for the graduates to end up in the US or other nations.
We live in an era in which industrialization is being superseded by digitalization, and Spain is not ready to educate its population for this change. The result is the highest unemployment rate in the OECD: 22%. A structural unemployment that is based on a misfit between the skills of the population and the jobs available in the marketplace. There is no unemployment in the tech sector in Spain, but there are not enough highly educated candidates for those jobs. We have to fix that and fix it before this country falls apart. Sending our best and brightest abroad could be part of the solution. We can’t wait for the education system to be fixed. Not with the lifetime jobs that we have provided to the mostly incompetent and untrained professors who populate it. And this is not true of Spain alone but of a lot of Southern Europe.
I used to think Israel was different from its neighbors, but lately less and less so. My religion is better than yours is no formula for peace in the region. As a secular Jew I would feel so uncomfortable if I lived in Israel with a government who makes comments like this.
It is also understandable how Europe, which is mostly secular, feels alienated from Israel now and USA which is mostly religious, identifies with the country. Israelis like to say that Europe is just anti semitic but while some of that is true, especially Spain (google “es dificil ser judío en España”) what is also true is that in Europe no politician speaks about God in general and least of all as if God liked Jews and not Muslims. Personally I think there is a very low probability that God exists but even if it did there is a proportionate lower probability that it belonged to any religion. I think that God in itself is an extremely unlikely entity but it did exist what would be the link between God and one particular religion? To me God inside a religion is a flag that some carry to do good but most carry as a symbol of their own tribe against others. In many cases God inside a religion is used to justify murder and that makes religion alien to me.
Long are the days of Israel being led by agnostics or atheists like Golda Meir who when asked if she believed in God she said. I believe in the Jewish people and the Jewish people believe in God. Now Israel is being led by people who think God is on their side. Pretty dangerous.
-basic household management, how to live on your own.
-history of science.
-home medicine and disease prevention.
-digital photography/video both capture and editing.
-basic accounting and business law.
-entrepreneurship (business plans and so on)
-statistics and probability.
-home economics, how to file for taxes, basic macroeconomic principles.
-principles of logic, epistemology and ethics (Philosophy)
-public speaking (done in UK and US but not continental Europe)
-introduction to engineering, the basic technologies that surround us.
-modern geography/astronomy including all types of digital maps and mapping resources.
-conflict resolution, dispute resolution, introduction to law.I have been editing this post adding the the best suggestions. Thanks for the contributions!
Today I came accross the question of why aren’t many very smart people rich. And while blunt, I am sure many smart people who are not financially successful have asked themselves that question. Especially if smart is defined as having performed very well at school which is how most people find out they are very smart. But I can relate to that question in a different way. Not as to “why aren’t many smart people rich” but “why aren’t people who are not considered to be smart, rich”.
When I was at Columbia Business School I was in the bottom half of the class. I was not considered particularly smart or bright. All I got studying entrepreneurship was a B+ and that was supposed to be my best subject as I wanted to be an entrepreneur. But then, after graduation I built, 8 companies over 25 years, 3 of them worth over $700 million. My last start up, Fon, has become the largest WiFi network in the world. And it is not only me, I know quite a few entrepreneurs who were mediocre at school only to thrive in real life. Some did better than me. So school is not such a good predictor of real life performance after all.
While teaching entrepreneurship at Instituto de Empresa, I have given a lot of thought to this paradox. How can school performance be a better predictor of life performance? Especially in entrepreneurship. As a result one thing I stopped doing, is grading students. Now they grade each other. And from what I have seen, students who other students think are smart, tend to do better in life than students who professors think are smart. Especially many professors who teach but don’t practice entrepreneurship. Entrepreneurship is more an art than a science.
Having said all this, my comments refer exclusively to business studies. In business getting rich is a direct consequence of success. In other fields being smart needs not to equate with being rich and that is fine. People shouldn’t become judges, or military commanders, or legislators, or many other essential occupations with the aim of getting rich. And getting rich is not a great objective in itself. In general in life having objectives is more interesting than having achieved objectives. Success in business is no exception.