According to the USDA’s website, in 1945 it took 14 labor hours to produce 100 bushels of corn on two acres. By 1987, it only took 3 labor hours and one acre to produce the same amount. Now, it takes less than an acre.
We have a wider array of food available to us than ever before. Created by fewer people. The division of labor continues to work wonders. Thank goodness we’re not all stuck on the farm. According to the occupational employment numbers from the Bureau of Labor Statistics, 419,200 were employed in the farming, fishing, and forestry occupations in May of 2009.
The same May 2009 report listed 8,488,740 people employed in education, training, and library occupations. So more than 20 times more people are needed to educate a small portion of the population than to grow food for everyone. But what about serving the food? Yes, food-preparation and food-serving occupations totaled 11,218,260 employees, serving the entire population of over 308 million.
Meanwhile, it takes more than 8 million to educate the 81.5 million that are enrolled in school. History and technology would say this surely can’t last. A proud father recently told me of quizzing his kids about scurvy. And while his young daughter gamely took a wild guess, his crafty teenage son ducked into the next room to google it, quickly emerging to give the correct answer that the disease that killed so many centuries ago is caused by a deficiency of vitamin C.
What schooling is for many is a 12- or 16-year sentence wherein young people are penned up, talked at, cajoled, quizzed, and tested, for the most part on facts and figures that can now be retrieved in seconds with a handheld device.
The budget for education in the United States was $972 billion in 2007, according to the 2009 Statistical Abstract of the United States — all of this money and all of these people for the promise that a life of employment success follows. Just as buying a house was the surest of investments, investing in an education is thought to be a sure bet. But the housing bubble has popped, and the education bubble is afloat, looking for a needle, according to PayPal founder and Facebook investor Peter Thiel.
“A true bubble is when something is overvalued and intensely believed,” says Thiel. “Education may be the only thing people still believe in in the United States. To question education is really dangerous. It is the absolute taboo. It’s like telling the world there’s no Santa Claus.”
(Read more from mises.org)