The coming shortage of American talent.

• Author: Kristie, James
• Position: Reprint

From Make It in America by Andrew N. Liveris. Copyright 2011 by the Dow Chemical Co. Published by John Wiley & Sons Inc. (www.wileyfinance.com).

A PROPERLY EDUCATED WORKFORCK is an issue of deep concern to business, especially to manufacturers. A recent report from the World Economic Forum said exactly what so many CEOs are thinking these days: "Human capital will soon rival--and may even surpass--financial capital as the critical economic engine of the future."

Several years ago, a collection of prominent business groups, including the ones in which I am a member, put out a report warning of a coming shortage of American talent. Our worry isn't just that our children are being educated poorly; it's that they're being educated poorly in the subjects most relevant to our economic well-being. There isn't enough focus on science, technology, engineering, or math in our schools (known as STEM in education policy circles). The country will need 400,000 new graduates in STEM fields by 2015; but we won't get them. And when we don't, companies in search of new talent will have no choice but to search elsewhere.

With the stakes this high, I'm often asked why 1 suppose it is that America is graduating so few students in such important fields while other countries are graduating so many. In China, India, Germany, and Japan, for example, engineering is seen as one of the most rewarding and prestigious careers one could possibly find. Graduates in those fields are highly respected...