According to the arguments cited by Drew Faust the President of Harvard at an event where mayors from towns and cities across the United States gathered, the key to address inequality as well as to create opportunities lay in investing in education.
This was conveyed in the event titled “Economic Growth For All,” to which the “U.S. Conference of Mayors’ Community Development and Housing Committee” played the host to, in order to discuss the ways in which people may be connected with more effectiveness to economic opportunities that are necessary for families to be independents in financial terms.
According to the opinion of Ms. Faust all discussions about how to lessen the impact of inequality in the US and having an economic growth that is more inclusive starts with heavy investments in education starting from early and childhood education right up to higher education.
The stand was not dissimilar to those she had taken at events held across the US from Dallas to Cambridge. She also provided explanations for the benefits students receive due to an education in college in terms of long-term financial gains.
She elucidated that over the course of life graduate students from colleges earn 60% more than their non-graduate counterparts. The total differential sum may amount to well over a million dollars. She further stated that those with college degrees were more likely to be home owners, be more healthy, less prone to bad habits like smoking and also that their children will more probably be college graduates themselves.
She urged universities and colleges to envision a broader role for them and not be limited to provide education to individual students. Her call to the mayors present at the event was to consider their universities as allies, assets and infrastructure.
She further stated that universities have an active part to play if we are to desire the distribution of wealth on a more equal basis and make the economy grow not only to benefit the few but the most.