The world economy is benefiting from the expansion of trade and the rising productivity of countries abroad that are making great strides expanding both their infrastructure and the educational attainment of their workforces. That can be good for them, and for us.
Importantly, our ability to reap the benefits of globalization will depend on the flexibility of our labor force to adapt to changes in job opportunities, in part by investing in the education and training necessary to meet the new demands (Bernanke, 2004). Educational attainment and achievement: where do we stand?