The Economic Returns to Postsecondary Education: Public and Private Perspectives

Autor/in	Matsudaira, Jordan
Institution	Postsecondary Value Commission
Titel	The Economic Returns to Postsecondary Education: Public and Private Perspectives
Quelle	(2021), (10 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Monographie
Schlagwörter	Outcomes of Education; Higher Education; Educational Benefits; Measurement; Educational Attainment; Costs; Federal Aid; Educational Finance; Expenditures; Tuition; Institutional Characteristics; Race; Enrollment Trends; Ethnicity; African American Students; Asian American Students; White Students; Hispanic American Students; Government Role + Suchen Sie Ihr Suchwort? Lernleistung; Schulerfolg; Hochschulbildung; Hochschulsystem; Hochschulwesen; Bildungsertrag; Messverfahren; Bildungsabschluss; Bildungsgut; Cost; Kosten; Bildungsfonds; Ausgaben; Unterweisung; Unterricht; Rasse; Abstammung; Ethnizität; African Americans; Student; Students; Afroamerikaner; Schüler; Schülerin; Studentin; Asian immigrant; United States; Asiatischer Einwanderer; USA; Hispanic; Hispanic Americans; Hispanoamerikaner
Abstract	In 1776, Adam Smith wrote, "the expense of the institutions for education… is… beneficial to the whole society, and may, therefore, without injustice, be defrayed by the general contribution of the whole society," in the "Wealth of Nations." Since then, economists and policymakers have argued that the social returns to higher education exceed those accrued by individuals, justifying public investment in higher education. Smith also noted, however, that public support may not be necessary to encourage individuals' pursuit of education if the private returns were high: "This expense, however, might perhaps with equal propriety, and even with some advantage, be defrayed altogether by those who receive the immediate benefit of the education." This paper discusses the conceptual difference between private and public "economic" returns to education, and the value of each of these metrics. It then briefly surveys evidence on the public returns to education, highlighting recent theoretical and empirical advances, and presents a brief description of how public investments affect private returns to education in the U.S. The paper concludes with a brief set of recommendations for key metrics that should be considered in institution-specific measures of public value, as well as where further research would be helpful. (ERIC).
Anmerkungen	Postsecondary Value Commission. Available from: Bill & Melinda Gates Foundation. e-mail: ValueCommission@IHEP.org; Website: https://www.postsecondaryvalue.org/
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01