House of Paine

OUR FAILED "HIGHER ED MARKET " part III

A TALE TOLD BY 
  STUDIES 
        PILED ON STUDIES 
                 SIGNIFYING ....NOTHING 

          ====================================



"Alan B. Krueger, an economics professor at Princeton,
 says the evidence suggests that,
 up to a point,
 an additional year of schooling
 is likely to raise an individual's earnings
 about 10 percent"



 
"the effect of better schools 
is most pronounced for disadvantaged students"

There is less certainty about the big picture. 

 the difficulty of quantifying indirect benefits.

HOW MUCH DOES

 formal education foster
 new commercial ideas 
and technological breakthroughs. 



"measurement challenges
 have led to big shifts
 in the conclusions of economic studies 
over time"

" In the early 1990's,
 economists calculated big economic rewards
 from additional investment in education"

" A decade later, the conclusions were different:
 studies suggested that while one individual
 might gain advantage over another 
through greater education, 
there might be no overall economic benefit."


"Today, economists suspect 
that the truth is somewhere in the middle"

 yup
time to write the graylady story 



" The latest attempts to quantify the impact
 of education on total economic growth
 have tended to conclude 
that it is at least as significant 
   as that measured for individuals" 


Two Harvard economists, 


"Lawrence F. Katz and Claudia Goldin,"

 studied the effect of increases in educational attainment
 in the United States labor force 
from 1915 to 1999.
 They estimated that those gains
 directly resulted in at least 23 percent
 of the overall growth in productivity"


"The most important factor
 was the move to universal high school education
 from 1910 to 1940"

.