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I an not that cynical about the future of teachers, they will still be very important, but things could get more efficient and free up teachers from a lot of drudgery at the same time. For things like math it is easy to see, just look at Khan Academy. Kids can learn at their own pace, teachers can monitor test results and focus where students need it the most. If you don't have to teach the whole class from a blackboard, then you can have a class of math students at many different levels. You individually help those that need help when they need help. You can even grab a few advanced students to help mentor the less advanced. I find that teaching others a subject really builds my knowledge of the subject.

But I think the technology first changes Text Books like it has changed "real" books, music, movies, mail, phones, etc. That is super easy. Think how many great (and free) eTexts Bill Gate's foundation could fund with just the dividends they make on $45 billion of stock. Let's see $45B x 3% dividend = $1.35 billion. So in one year he could probably hire all the best text book authors, pay them triple what a publisher pays and have them create the superior eTexts. Then you just need to get e-readers into student hands. For what a school pays for books, you could probably do that.

Now that would be a great experiment.
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