What does it mean to "prepare our students for a global economy"?
When I think about a global economy, I think of equal access to economic resources, easy entrance and exit from markets and no pricing power. As an example, the cotton tshirts industry is approaching perfect competition and zero economic profits. In a global economy profits are eaten away quickly and prices fall to marginal cost. In the global economy I envision, there is complete factor mobility. I see these characteristics in telecommunications and information, but not in sectors where there's exclusive ownership of a resource.
So when I am preparing my students for the global economy, how should I prepare them? Many professionals recommend that I teach higher order thinking skills and how to use a computer. But shouldn't I be teaching how to patent an invention or buy land to extract monopoly rents?
To be sure, the skills I must teach must complement math and writing.
Your comments are welcome.