08/10/13
How the free market works for education
In this past weekend’s Wall Street Journal, journalist and author Amanda Ripley, profiled a teacher in South Korea who makes $4 million a year. Yes … $4 million. His name is Kim Ki-Hoon and he teaches in one of South Korea’s private, after-school tutoring academies called “hagwons” where his lectures are videotaped then available for purchase on the internet. Mr. Ki-Hoon is paid according to his demand (which, evidently, is pretty high) in what Ms. Ripley calls “a free market for teaching talent.”
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How the free market works for education
In this past weekend’s Wall Street Journal, journalist and author Amanda Ripley, profiled a teacher in South Korea who makes $4 million a year. Yes … $4 million. His name is Kim Ki-Hoon and he teaches in one of South Korea’s private, after-school tutoring academies called “hagwons” where his lectures are videotaped then available for purchase on the internet. Mr. Ki-Hoon is paid according to his demand (which, evidently, is pretty high) in what Ms. Ripley calls “a free market for teaching talent.”
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