Sirota: Billionaire Says Schools Don’t Need More Money

Diane Ravitch's blog

David Sirota reports that billionaire Stephen Schwarzman told a high-level audience of business and government leaders at the World Economic Forum in Davos, Switzerland, that schools don’t need more money. He suggested that they could improve by enlisting unpaid labor, like retirees, to tutor children.

“DAVOS, Switzerland — Private equity investor Stephen Schwarzmann is generally a believer in the power of money, a trait that has netted him billions of dollars worth of that useful commodity. But when it comes to education, Schwarzman says more money is not necessarily a fix for ailing American public schools.”

He added:

““I’ve always wondered, what you do in a society with people who just retire,” he told conference attendees. “If you could get those people, like a board, [to be an] unpaid workforce, pay them next to nothing or nothing, and have them go into the school system to be mentors to kids…

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