Higher Learning, Greater Good The Private and Social Benefits of Higher Education
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Description: A college education has long been acknowledged as essential for both personal success and economic growth. But the measurable value of its nonmonetary benefits have until now been poorly understood. Walter W. McMahon, a leading education economist, suggests that higher education accrues significant social and private benefits. McMahon argues that there is a major skill deficit in the United States and other OECD countries because of technical change and globalization. Yet with a college degree comes better job opportunities, higher earnings, and even improved health. Higher education also promotes democracy and sustainable growth and contributes to reduced crime and lower state welfare and prison costs. These social benefits are substantial in relation to the costs of a college education. McMahon offers a human capital perspective on this and other higher education policy issues. He suggests that poor information about the value of nonmarket benefits leads to private underinvestment. He offers policy options enabling state and federal governments to increase investment in higher education. Adequately reforming higher education policy, McMahon argues, is also critical for reducing inequality and encouraging growth, both important in the present era of globalization.
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All the information you need in one place! Each Study Brief is a summary of one specific subject; facts, figures, and explanations to help you learn faster.
List price: $50.00
Copyright year: 2008
Publisher: Johns Hopkins University Press
Publication date: 2/10/2009
Size: 6.00" wide x 9.00" long x 1.25" tall
|What Is the Problem?|
|Challenges Facing Higher Education Policy|
|Higher Education and Economic Growth: Jobs, Earnings, and the Skill Deficit|
|Private Non-Market Benefits of Higher Education and Market Failure|
|Social Benefits of Higher Education and Their Policy Implications|
|University Research: Social Benefits and Policy|
|New Higher Education Policies|
|New Strategies for Financing Higher Education|
|Correcting for Ability Bias in Returns to Higher Education|
|A Simplified Dynamic Model with Higher Education Externalities|
|Valuing the Effects of Higher Education on Private Non-Market Outcomes|
|Higher Education and Growth, U.S. and OECD Countries, 1960-2005|
|Valuing the External Social Benefits of Higher Education|