Stop me if you’ve heard these before:

American public schools are failing,

American students are falling behind their global peers,

The future of American innovation, economic equality, and global competitiveness depends on schools today preparing students for the job market of tomorrow,

School reform is only tool we have to fix these urgent issues

Each of these sentiments have become conventional wisdom at this point, and they’ve appeared in the platforms of both major American political parties if not explicitly, then through familiar buzzwords: school choice, competition, data-driven accountability, college and career readiness, STEM education, and gaps of all kinds: the skills gap, the achievement gap, and the employment gap, to name a few. And when your only tool is a hammer, all your problems look like nails… But it may also be the case, despite the flaws of public education throughout the nation’s history, that American public schools became “failing schools” exactly when they needed to, to fit the needs of politicians and industry, and to fit schooling into the new economic order that came to dominate the last half century. 

At the global level, this narrative even fuels reactionary stories of civilizational struggle and the “decline of The West. As an Italian economist lamented for GIS Reports earlier this year, “There are only two ways Western educational systems can reverse the current trend and offer more appealing prospects: Allowing private schooling to flourish and Bringing about radical reforms in state schooling.”

The most likely outcome, he predicts is a steady decline, writing, “the vicious spiral that links poor education to inequality, social tensions, more government intervention and, finally, low productivity and stuttering economic growth will likely dominate the future of many Western countries for years to come.”

This last line captures what my guest today describes as The Fantasy Economy. Neil Kraus is Professor of Political Science at the University of Wisconsin, River Falls. His most recent book, The Fantasy Economy: Neoliberalism, Inequality, and the Education Reform Movement, describes in powerful detail how exactly our popular, bipartisan conventional wisdom about America’s “failing schools” and the decline of of the American student came to be: as the result of a deliberate project to shift the responsibility for economic precarity and inequality away from industry and policy and place it squarely on the shoulders of educators and schools. “Ultimately,” he writes, “ we must see the fantasy economy for what it is—a misleading, political campaign in the interests of corporations and the wealthy.”

The Fantasy Economy