More Resources Chairman Greenspan's Testimony

U.S. Secretary of Education Rod Paige issued the following statement on the testimony of Federal Reserve Chairman Alan Greenspan before the House Committee on Education and the Workforce on March 11, 2004:

"I appreciate Chairman Greenspan's remarks about the relationship between quality education and our nation's competitiveness in the 21st-century global economy. By lending his considerable expertise to this issue, Chairman Greenspan highlights the need for greater responsiveness from our education systems at all levels as we work to meet the changing needs of a global society. Despite increased spending over the last three decades, the status quo, monopolistic education system is not keeping pace with the demands of the rapidly changing economic system.

"Commercial enterprise has been the backbone of our nation, and the most successful businesses constantly assess their performance and work to improve it and their products. Innovation is a significant factor and the market is a driving force. We all know that monopolies don't work: just look at the Soviets—their economy could not keep up with the competitive forces of capitalism and eventually imploded. There is no doubt that we have a monopolistic K-12 education system in this country. As a result, school creativity and innovation are stifled and made lifeless. To shield schools from market forces is to strangle school creativity and innovation, thus promoting the status quo. Our current status quo, on the whole, is mediocre at best.

"As Chairman Greenspan noted, our students are lagging behind those in many other industrialized nations by the time they leave high school. Our students and families deserve better. Our nation needs better.

"President Bush understands this need as well. That is why he provided the visionary leadership to create the Jobs for the 21st Century initiative. He knows that community colleges must be active players in training people for the new jobs of the 21st century—higher-paying and better jobs overall. The president also understands the need for fundamental K-12 reform. The No Child Left Behind Act is the most comprehensive education reform initiative in our nation's history—it is making our schools more inclusive, responsive and effective. I couldn't agree more with Chairman Greenspan that "equal opportunity requires equal access to knowledge." No Child Left Behind is the next logical step after the Brown v. Board of Education decision that desegregated American schools 50 years ago. Brown tore down barriers and gave all students the opportunity to walk through the schoolhouse door; No Child Left Behind now ensures they receive a quality education when they do. I believe that each and every student has tremendous potential—regardless of his or her race, spoken accent or place of residence. We must not allow that potential to be left idle or untapped. There is too much at stake."

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