In the article, ‘The Proof Economy’ Anand Sanwal says, “Don’t Bring a Résumé. Bring Receipts.” Anand starts with two definitions saying that we’ve moved from the Parchment Economy to a Proof Economy,
“We’ve entered the Proof Economy, a world where the most valuable signal isn’t where you went to school, what your GPA was, or which honors you collected, but what you’ve actually done and can do. In this new landscape, demonstrated ability trumps pedigree, and what you’ve built matters more than where you studied.
Meanwhile, the Parchment Economy, that centuries-old system where formal credentials and institutional validation serve as proxies for capability, is losing its monopoly on opportunity. The elaborate dance of transcripts, recommendation letters, diplomas and prestige markers is becoming increasingly irrelevant in field after field.”
This is something I’ve been describing for a while now, without properly defining the difference in the two ‘economies’. Beyond credentialed professionals like doctors, engineers, and lawyers, what now matters most is your portfolio, not your schooling certificates. ‘What is it that you can do better than others to earn you a spot in our organization?’ (Regardless of your credentials.)
Anand says,
“When anyone can access expertise through prompts and build a prototype video, software product or design via AI, the value shifts decisively from knowledge possession to knowledge application.”
But for me the most interesting section in his article is:
What Education Needs to Become
If we accept that we’re entering the Proof Economy, schools can’t just add a few electives or rethink assessment to focus on progress and not perfection..
They need to rewire what they reward.
We should expect:
- Projects over problem sets: Real-world challenges that apply knowledge, not just recall it.
- Portfolios over transcripts: A body of work that shows thinking, skill, and growth.
- Public work over private grading: Output that lives in the world, not a Google Doc.
- Coaching over compliance: Adults who challenge and support, not just evaluate.
- Failure as fuel: A system that treats failed attempts as essential steps, not permanent marks.
At Inquiry Hub Secondary our students are still entrenched in the old public education system in that they complete required courses to meet provincial high school graduation requirements, and most of them still head off to university, college, or a technical institute to further their studies. However, along the way they are given the time, space, and credits (towards their graduation), to produce documentation of learning in areas of interest. They have an opportunity to design and build projects, (documented receipts), most other students could only get done on their own time, outside of traditional classrooms.
They also get to live in an environment where they have to cooperate with fellow students in scrum projects with tight timelines and defined roles (not just group projects with everyone having identical outcomes and expectations). They have to do frequent presentations, alone and in groups, with training to give and receive feedback with radical candour. They understand iteration, they pivot based on where their learning takes them, and they embrace failure as learning opportunities because sometimes obstacles become the way. And they are provided with greater and greater autonomy over their time as they progress from Grade 9 to 12.
Essentially, Inquiry Hub students still get their resume of courses, but they are also provided the opportunity to bring receipts too.
