During his presentation at the 2009 AEP Summit, Dr. Richard Sims, Chief Economist for the National Education Association, discussed the relationship between the economy and education, why education is being affected so drastically during this crisis, and what actions publishers should take. Here are highlights from his session.
First, we are not used to thinking of education as a marketplace–it is an ethereal, higher calling. This is especially true because during past economic downturns, education funding was not typically cut. However, as states encounter large shortfalls (California is looking at one of possibly 33.5%), education is competing for the remaining dollars with health care and corrections. Instructional materials are a small part of the education budget–one that politicians think they can cut. Continue reading ‘Economic Forecast for the Education Market’
