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Panel Detail:

Monday, April 23, 2007
2:00 PM - 3:15 PM

Early Childhood: A National Investment With Positive Returns

Moderator:

Robert Dugger, Managing Director, Tudor Investment Corporation

Global competition is intensifying, and if the United States is to succeed, the country's children must flourish. Evidence clearly demonstrates that investing in youth from the outset increases their chances of growing into healthy, productive adults.p> Moderator Robert Dugger of Tudor Investment led panelists Eva Blum of PNC Bank, Dennis Winters of the Wisconsin Department of Workforce Development and Julie Wright of the San Diego Regional Economic Development Corp. in a discussion of the way Americans invest in their children′s future, including early childhood health care and education.

With global competition intensifying daily and the national debt skyrocketing, the future of America's young people depends on a commitment to excellence in early education. Panelists agreed that a sound investment strategy and proper goal-setting will yield smarter, stronger and more confident minds and reveal hidden talents upon which the U.S. economy depends.

For this reason a consortium of business leaders, economists and philanthropists have drawn up a plan, Partnership for America's Economic Success, to help make the successful development and education of children a top economic national priority.

Astoundingly, more than 20 percent of U.S. workers are functionally illiterate and innumerate. High school dropout rates are increasing year by year, and the United States has the highest child poverty rate of the 20 developed countries belonging to the Organization for Economic Cooperation and Development (OECD).

The Partnership takes a three-pronged approach: Phase I is gathering evidence of the economic impact and laying the groundwork. Phase II is building coalitions and developing policy agenda; and Phase III is an advocacy stage.

"Skill begets skill," said Wright. "We must focus on the private sector ... import the talent and export the jobs." Furthermore, she added, "We must focus on growing the talent here, in our own country, rather than lose it to other countries."

Children must learn to first learn to read, then read to learn, added Winters. But it is a sad truth that U.S. support for early childhood education lags far behind that of other nations, she said, including that of most European nations.

"The vehicle for change is advocacy, grants and volunteering," explained Eva Blum. "We want our children to grow up being great. The first five years of life are the most critical for (mind development)."

She noted that economic development across communities is of vital importance. Children without proper education face poverty and may turn to crime, which is a negative burden on the community, socially and economically. Meanwhile, the result of a solid early education is an increase in savings, greater ownership, less special education and less crime.

Within the research agenda are five areas of focus. First, the microeconomic net gains from a solid early education; second, the macroeceonomic gains, including job creation, global competitiveness, fiscal sustainability and economic growth; third, sector analysis of jobs and GDP; and fourth, financial policy, the "how to pay for it all." Finally, the "communications part," or, the best ways to communicate findings and inform policy makers of the results so that change can become a reality.

By 2012, panelists explained, the partnership's goal is to have more than a million members in the coalition. By 2014, the goal is to work toward including in the federal budget the means to make the lifetime well-being of every child the highest priority of the government.

"To succeed, we must work together," said moderator Robert Dugger. So far, 12 donors have committed $3.11 million to help fund this economically vital project, so important for the future leaders, movers, and shakers of our country's economy.

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