"A child's learning is the function more of the characteristics of his classmates than those of the teacher." James Coleman, 1972

Saturday, June 02, 2018

Making Childhood Pay: Arthur Rolnick, Steven Rothschild, and ReadyNation

by Wrench in the Gears
June 1, 2018

This post provides additional background on the ReadyNation Global Business Summit on Early Childhood Education that will take place at the Grand Hyatt hotel in New York City November 1-2, 2018. No U.S. educators or policy advocates may attend unless they come with at least four pre-approved business sponsors. Review the draft agenda here.
This is the second in a series. Read part one here.
Where did ReadyNation come from?
The idea emerged from a conversation three men had on a conference call during the summer of 2003:
   Arthur Rolnick, senior researcher at the Minneapolis Federal Reserve
   Robert Dugger, financial policy analyst and venture capitalist
   James Heckman, University of Chicago economics professor
Its first incarnation, the “Investing in Kids Working Group,” focused on researching returns on early childhood investments, developing finance mechanisms, and crafting policy recommendations. Over the past fifteen years Dugger, in consultation with Heckman and Rolnick and with support from the Pew Charitable Trusts, gradually built a structure to undergird a global investment market fueled by debt associated with provision of early childhood education services.
The push for early childhood education access is NOT being driven by a desire to meet the basic human needs of children. Rather financial interests that view children as cogs in a national workforce development program are pushing it; and they see preschoolers as lumps of human capital to be plugged into economic forecasts. This is all happening at a time when human services are being privatized in the name of scalable, outcomes-driven social entrepreneurship. The trailer for a new documentary, The Invisible Heart, on social impact bonds indicates how much capital is flowing into this new market.


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