Legislation
Reading an article about an interesting Education business had us thinking of regulation and, primarily, goals for Education. The current debate about Public Education in the US focuses on adjustments/ improvements to the No Child Left Behind Act of 2001, which is all about accountability. In a separate story, Tom Friedman reminds us that the top-notch jobs of the future may require skill-sets (and individual attitude) that current education models may simply be unable to provide. But when you’re a Brazilian public education student and the debate isn’t even close to scratching the surface of the “accountability” trend, it’s definitely a scary future.
Gustavo Loyola, a former Brazilian Central Bank chief, writes an op-ed today about the increasingly irresponsible legislative pieces enacted or proposed by our Congress. He goes back to the ages-proven concept that success breeds failure and vice-versa and applies it to Brazil’s current situation. We’ve been mentioning these risks in our latest reports and it’s part of our reasoning to keep a relatively high cash stake. While it has been somewhat tempered since our last report, some prices still imply a “blue-sky” scenario that we’re not comfortable with.
Read more about Brazilian Congress vs. fiscal responsibility
