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The education factor: schooling once drove the nation's rise to the top, but things have changed, unfortunately.

Article Excerpt
The Race between Education and Technology

By Claudia Goldin and Lawrence F. Katz

Belknap Press, 2008, $39.95; 496 pages.

Many of the briefs for American exceptionalism, from de Tocqueville's Democracy in America to Louis Hartz's The Liberal Tradition in America, focus on the nation's political and economic systems. Claudia Goldin and Lawrence Katz, two historically minded economists, advance the claim that America has followed a path of development unique among nations by rapidly building a comprehensive education system. Ultimately, they argue, America surged to global preeminence and created immense, widespread wealth by turning what was once the province of the elite into a utility for the masses. "That the twentieth century was both the American Century and the Human Capital Century is no historical accident," the authors write. "The nation that invested the most in education, and did much of that investment during the century in which education would critically matter, was the nation that had the highest level of per capita income."

Goldin and Katz delineate the historical process...

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