"... a landmark new research paper underscores that the difference between a strong teacher and a weak teacher lasts a lifetime. Having a good fourth-grade teacher makes a student 1.25 percent more likely to go to college, the research suggests, and 1.25 percent less likely to get pregnant as a teenager. Each of the students will go on as an adult to earn, on average, $25,000 more over a lifetime — or about $700,000 in gains for an average size class — all attributable to that ace teacher back in the fourth grade. That’s right: A great teacher is worth hundreds of thousands of dollars to each year’s students, just in the extra income they will earn.
"The study, by economists at Harvard and Columbia universities, finds that if a great teacher is leaving, parents should hold bake sales or pass the hat around in hopes of collectively offering the teacher as much as a $100,000 bonus to stay for an extra year. Sure, that’s implausible — but their children would gain a benefit that far exceeds even that sum.
"Conversely, a very poor teacher has the same effect as a pupil missing 40 percent of the school year. We don’t allow that kind of truancy, so it’s not clear why we should put up with such poor teaching. In fact, the study shows that parents should pay a bad teacher $100,000 to retire (assuming the replacement is of average quality) because a weak teacher holds children back so much.
"Our faltering education system may be the most important long-term threat to America’s economy and national well-being, so it’s frustrating that the presidential campaign is mostly ignoring the issue. Candidates are bloviating about all kinds of imaginary or exaggerated threats, while ignoring the most crucial one....
Mitt Romney, who after his victory in New Hampshire on Tuesday seems increasingly likely to be the Republican nominee, refers to education only in passing on his Web site. The topic receives no substantive discussion in his 160-page “Believe in America” economic plan...
"Suppose that the bottom 5 percent of teachers could be replaced by teachers of average quality. The three economists found that each student in the classroom would have extra cumulative lifetime earnings of more than $52,000. That’s more than $1.4 million in gains for the classroom.
"That, and not most of the fireworks that passes for politics these days, is the debate we should be having on a national stage. "
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