PERSPECTIVE ON HIGHER EDUCATION : Fuel Faith in the Power of Learning : Restore the spirit behind the GI Bill, which invested in educating people to benefit the individual and society.

Most of the recent ceremonies marking the 50th anniversary of the end of World War II have, quite understandably, focused on the gratitude we all owe to those who made so many sacrifices, the enormity of the war effort and the exhilaration of victory. But just as remarkable is what happened next, as a generation that had experienced the Depression of the 1930s and the global war of the ‘40s returned home.

As I reflect on that pivotal moment in our history, I marvel that out of the deep difficulties of the previous decades emerged an era not of skepticism and despair, but of optimism and hope; not of hedonism and self-aggrandizement, but of continuing sacrifice and investment.

It was a generation that decided not to live off accumulated capital but to create new capital and a better future through education and science and technology.

A principal instrument was the GI Bill of Rights. What was striking about that bill was not simply its unprecedented level of faith in the value of education and its commitment to make higher education widely available. It was the fact that this generation of veterans was offered a reward whose benefits would take many years to be realized.

At a time when people were impatient to get on with their lives and build a better future, it was an example of what some call “patient capital.” In this respect, it was a modern homestead act in which investments would be made first--by both the government and the individual--and only later would the dividends flow to both the individual and the society.

This attitude was very different from the one we hear today from those who would dramatically curtail the government’s investment in higher education because, they argue, the benefits accrue solely to the individual, not to society.

The early postwar years were also characterized by very optimistic attitudes toward science and technology. We believed that knowledge would help safeguard our democracy, provide material progress and improve the quality of life for all people. We also understood that while companies and entrepreneurs would invest in the fruits of knowledge to develop new products and services, they would not risk sufficient capital on the creation of knowledge itself. This was, at least in part, a governmental responsibility in partnership with colleges and universities.

This optimism and faith eroded over time as we began to recognize that many pressing issues were non-technological in nature and would require non-technological solutions. Over time, pervasive optimism gave way to skepticism and uncertainty about the value of new knowledge.

I have found it useful to consider history as cycling from periods of optimism to periods of skepticism. Fortunately, these skeptical periods are typically followed by periods of integration in which a new synthesis is formed that gives rise to a new era of hope.

I believe we are at such a point in history. Recent data make it clear that education continues to pay off for society as well as for individuals. Therefore, we somehow must find a way to return to the principles of the GI Bill and increase our public investment in the most important asset of our society: our people and their education. Studies also continue to indicate very high levels of social and economic returns from investment in science and technology.

There are many important claims on the public purse, but in making the difficult choices ahead, it is especially important that we avoid short-term expediencies that are damaging to all of us over the long term. Above all, we should not let our sometimes disappointed expectations regarding education and knowledge blind us to their continuing and very real potential.

As I review these past five decades, I believe our patience was rewarded many times over and the human and scientific capital in which we invested has paid extraordinary dividends. I hope this generation will insist on similar commitments and that as taxpayers and voters we will let our representatives know we too are willing to make sacrifices and investments on behalf of the future, through both education and research.