Summary of the piece by Graham R Mintaka

        The piece by Graham R Mintaka uses statistical data to explore the importance of Education. The article uses the data from United States of America Census Bureau to support the argument that education has monetary benefits.  It argues that the dynamics for worker demand are now based on knowledge due to the digital era. It tells us about how the income gap over the years has increased based on the educational level.  It divides educational level in different groups and uses wage gap to prove the point. The 30 years dynamics have been explained by the graph that how 28 percent difference in wages if 4 year degree program high school program rose to a whopping 66 percent in 2005.

        The statistical analysis also showed women with better education prospects earn more than their male counterparts and likewise for the males.  The analysis that broken down into educational levels and informs the readers how the different levels add to the value of career and the pay rate. The master’s degree holder earns more than the Bachelor’s degree holder. Statistically, in 2005 the median earning for high school grad was $ 35400 whereas the Master’s degree holder had a mean of 70,000 Dollars. The writer is trying to make a point that investing in education is a smart investment as it pays off. It talks about specific and specialized area of education earns you what the he calls the real prize. [1]

        He says professional degrees that lead ones to become a dentist, engineer, lawyer or any other professional degree coupled with the MBA degree becomes the real prize due to diversity and knowledge that aids the management process.  In the last part of the article the author gives his reasoning that doctorate degrees are the last stop of education and many acquire knowledge to pass onto others that help the economy.

Analysis and conclusion of the piece by Graham R Mintaka

        I found the article biased towards proving a certain point of view. Nowhere will I negate the fact that knowledge is power and statistics are wrong. But the writer has generalized education as the only key aspect that promises successful careers and a better lifestyle. The author misses the point that skills and area of expertise coupled with education makes the best package which is what sells in the market. The importance of education cannot be mitigated but skills are an important aspect in the job market. Like the argument that college dropouts became billionaires cannot be generalized to say that every drop out is going to be a billionaire. [2]

        Also I believe that the author failed to account in the disposable income of both the classes. Education pays the author says but before that you pay for education. Many cannot afford to go to college or university and have to opt for student loans to meet their educational expenses.  After these students who use student loans to get through their degree have huge debts to pay from what they earn more. Student debt is a serious issue in the American economy and it takes a good amount of time for many to pay it off.

  Disposable income in that period might be slightly more or less than that of a high school grad due to payment of loan. The author bases on his analysis on certain factors and doesn’t account in the dynamic workplace environment and market. Also there has been no comparison in the number of graduates in the past and nowadays which affects the very core of this analysis. Education is important but he should have made the article more dynamic and shed light on importance of skills too.  [3]

References of the piece by Graham R Mintaka

Julian, T. (2011). Education and Synthetic Work-Life. 1-16.

KOMINSKI, T. J. (2011). Education and Synthetic Work-Life Earnings Estimates. Retrieved from https://www.census.gov/library/publications/2011/acs/acs-14.html

Trends.collegeboard.org. (2011). Trends in Students Aid. 1-28.