Respond to at least one peer. Respond to a peer who chose the option you did not choose(I chose healthcare, this student chose education).Original post question was “Address the following, providing specific examples within the area of focus, perhaps what you have seen in your own communities as well as research:
What are the implications (including tradeoffs and effects) of the high cost of either health or education on the human capital needs of the U.S. economy?
What policies would you recommend to rein in these costs or at least to slow down their rate of increase?”
Further the dialogue by providing more information and clarification. 2 sources APA format:
Education is a business without the opportunity for productivity gains, the ratio between students and educators remains the same, thus the inflation rates are higher than in other fields considered when calculating the CPI (Chamberlain University, 2019). The implications of this are higher tuition and subsequently lower enrollment. One example of the effect of inflation in education is the nursing shortage. As education becomes more expensive in conjunction with institutions seeking bachelor prepared nurses to maintain magnet status, the supply of trained nurses cannot keep up with the demand. The tradeoff is to incorporate other classifications of healthcare workers into bedside care, such as LPNs. The clinicians are not as versatile and may impact patient care due to working within the limits of their scope of practice.
“The reasons for the rising cost in the United States includes significant state funding cuts to the higher education institutions and low student enrollments leading to declining tuition revenues” (Honu, 2019). One recommendation to slow down the rate of inflation in the field of education would be for institutions to diversify their sources of revenue to minimize the effects of losing government funding without causing an increase in tuition rates. One method to achieve this goal is by instituting program advisory committees whose role is to research fields in high demand, skill enhancement strategies, and restructuring of curriculum. This would allow institutions of higher learning to increase their efficiency as well as marketability, which may lead to donor revenue outside of state/government legislation.
