Warren Buffett’s billions won’t transform education if it’s poured into the existing system, warns Andrew Coulson of Cato’s Center for Educational Freedom. Walter Annenberg funneled more than a billion dollars to public schools in the ’90s with little lasting effect, Coulson points out.
The Wreck of the Annenberg can be attributed to a single fundamental flaw in the ambassador’s approach: he assumed that excellence, once demonstrated, would automatically be imitated.
But, without competition, “America’s public school monopoly has no mechanism by which excellence can be routinely identified, perpetuated and disseminated.”
Coulson is encouraged by the thank you gift Bill and Melinda Gates gave to Buffett for his $30 billion gift to their foundation: Adam Smith’s The Wealth of Nations.