American Revolution 2.0

How Education Innovation is Going to Revitalize America and Transform the U.S. Economy

See below for a preview of GSV’s 2012 white paper “American Revolution 2.0”

Read the full report here.

“Since 1776, it’s always been a mistake to bet against America” - Warren Buffett

Our Best Days Are Behind Us?

Conventional wisdom holds that the United States is a nation in decline, and that our national greatness is being eclipsed around the world by the rise of China, India, Brazil and the like. Since the dark days following September 11th, we’ve spent considerable time, energy and resources undertaking nation-building in faraway lands—sadly, to the neglect of our own country’s needs. The core of our national infrastructure—our people, our human capital—has been ignored at our own peril, and has now put our country truly at risk.

The American Promise has always held that if you worked hard and kept your nose clean, you could enjoy gainful employment, an improving standard of living, and ultimately would be able to retire comfortably.

Since 1960, our GDP per capita has risen over 1,500%, from nearly $2,900 to over $47,0002, and people from all over the world moved here to participate in the American Dream. Today, we suffer an 8.3% unemployment rate, with an estimated 12.7 million Americans unable to find a job...that’s more than the entire population of Ohio. For African-Americans and Latinos, the unemployment rate is substantially worse, at 14.1% and 10.3%, respectively. Including underemployed, the overall rate is 18.0%. Depressingly, 51% of college graduates cannot find a job within a year of graduation; only 54% of all 18-24 year olds are employed, the lowest percentage in 60 years. Law graduates are becoming the “starving artist” of our day, with 45% not employed within nine months after receiving their diploma.

Tragically, in a world where knowledge and education are the fundamental currency needed to participate in a global marketplace, almost 30% of students are not graduating from high school and most young adults are entering college ill-prepared. In 2010, 43% of new college students at 4-year institutions and 50% of incoming students at 2-year institutions needed to take remedial classes to be college ready, an increase from 33% in 2002.