The future of education - a 'world school' and virtual universities
In the last few decades, we have completely changed the way we work and play. The way we learn hasn’t changed at all. But it looks like it’s starting to.

There was an article in the Telegraph magazine this week about a fabulous sounding new private school in New York. Avenues' is known not just as a school, but as a world school or - if you prefer - "an integrated learning community".
Half of the lessons are taught in Mandarin or Spanish; the children will be trilingual when they leave school; everything is done on iPads; there is "an atmosphere of calm; the ground floor includes a "mom caf" in which anxious mummies can spend as much time as they like; moral and ethical values are considered part of the curriculum; and the new ten- storey building is "bathed in light."
If you are interested in being an Avenues parent (and who wouldn't be?) you can watch a virtual prospectus on YouTube and think about how you might raise the $40,000 a year fees when the school opens in cities around the world in the next decade.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In the meantime the key point to take away here is one that founder Chris Whittle makes in the piece. "The world has changed", he says, "but education has changed more slowly than anything else".
He is right. We have completely changed the way we work and organise our leisure time in the last 20 years, but schools and universities are not only much the same as they always have been, but they are the same all over the world. "If a Martian came to Earth and went to a school in Notting Hill or Beverley Hills or Beijing they would think they were all pretty much the same thing."
That might be about to change. At Davos this year, the subject of online education was "ultra hot", and in the FT this week Gillian Tett looks at traditional education and asks "What is the point of university?"
Back in our day we had to be on campus in order to attend lectures, meet tutors and, of course, borrow books from the library. Now everything can be done on Skype and an iPad MIT puts all its courses online already. When all this takes off, former Harvard president Larry Summers told Davos: "it will be hugely transformative."
Perhaps it already is. A snippet in the Mail on Sunday makes the point. Edinburgh University offers six online courses known as Moocs (massive open online courses) in subjects as diverse as equine nutrition and astrobiology, and has seen applications for them rise 50% in the last eight weeks alone.
University isn't going to disappear it is about "valuable campus experiences" and social insurance for the middle classes as well as about the course work itself, says Tett. However, it is well worth noticing that the 50% rise in Moocs applications at Edinburgh adds up to 300,000 people, and that there are currently a mere 26,000 undergraduates studying at the physical university.
PS You can apply for an Edinburgh Mooc too they are free and run for five weeks. The Edinburgh programme is part of the wider Coursera Consortium see www.coursera.org for more on the other courses available.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).
After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times
Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast - but still writes for Moneyweek monthly.
Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.
-
Six out of 10 retirees who accessed a pension didn’t use Pension Wise - how does the guidance service work?
Many pension savers don’t bother using the free government-backed service Pension Wise. So, how does it work, and could it be useful for you?
-
UK-EU trade deal: Britain to get a £9bn boost to the economy by 2040
The government’s agreement with the EU follows on from separate deals with India and the United States. Will it breathe life into the UK economy?
-
Beating inflation takes more luck than skill – but are we about to get lucky?
Opinion The US Federal Reserve managed to beat inflation in the 1980s. But much of that was down to pure luck. Thankfully, says Merryn Somerset Webb, the Bank of England may be about to get lucky.
-
Rishi Sunak can’t fix all our problems – so why try?
Opinion Rishi Sunak’s Spring Statement is an attempt to plaster over problems the chancellor can’t fix. So should he even bother trying, asks Merryn Somerset Webb?
-
Young people are becoming a scarce resource – we should value them more highly
Opinion In the last two years adults have been bizarrely unkind to children and young people. That doesn’t bode well for the future, says Merryn Somerset Webb.
-
Ask for a pay rise – everyone else is
Opinion As inflation bites and the labour market remains tight, many of the nation's employees are asking for a pay rise. Merryn Somerset Webb explains why you should do that too.
-
Why central banks should stick to controlling inflation
Opinion The world’s central bankers are stepping out of their traditional roles and becoming much more political. That’s a mistake, says Merryn Somerset Webb.
-
How St Ives became St Tropez as the recovery drives prices sky high
Opinion Merryn Somerset Webb finds herself at the epicentre of Britain’s V-shaped recovery as pent-up demand flows straight into Cornwall’s restaurants and beaches.
-
The real problem of Universal Basic Income (UBI)
Merryn's Blog April employment numbers showed 75 per cent fewer people in the US returned to employment compared to expectations. Merryn Somerset-Webb explains how excessive government support is causing a shortage of labour.
-
Why an ageing population is not necessarily the disaster many people think it is
Opinion We’ve got used to the idea that an ageing population is a bad thing. But that’s not necessarily true, says Merryn Somerset Webb.