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Drucker points to rise in adult education

Free Market Foundation

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Management expert Peter Drucker forecasts increasing demand for continuing adult education. Behind this growth, he says, is people’s realisation that they are just not keeping up with the fast-changing developments characteristic of today’s society. They will use the Internet to upgrade their knowledge, says Drucker.

  • He estimates that Americans now spend $1 trillion on education and training.
  • Education in grades K-12 now commands 6 percent of Gross Domestic Product, colleges and universities consume 4 percent, and the current market for continuing education equals 6 percent of GDP — and that sector is going to
    grow enormously, he believes.

  • With 40 percent of the total U.S. work force earning their livelihoods utilising their knowledge rather than manual skills, there is a huge potential market for
    continuing adult education.

  • Online teaching will capture much of that market because it is time-efficient, cost-efficient and flexible enough that a student can replay the material if it is not
    comprehended right away.

    Drucker says that online education will never replace traditional means of education. But it is a market worth potentially hundreds of billions of dollars.

    Source: NCPA Policy Digest/Peter Drucker (Claremont Graduate School), “Putting More Now Into Knowledge,” Forbes, May 15, 2000.

    For more on Worker Training/Education: http://www.ncpa.org/pd/economy/econ5.html

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