Education's Effects on Individual Life Chances and On Development
An Overview
Bibliographic Data
| ID | 8408482 |
|---|---|
| Authors | Walter W Mcmahon (University of Illinois Urbana-Champaign, corresponding author), Moses Oketch (0000-0002-9901-6373, University of London) |
| Year | 2013 |
| Volume | 61 |
| Issue | 1 |
| Pages | 79-107 |
| Publication date | 2013-03-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | British Journal of Educational Studies (JOURNAL) |
| Journal identifiers | ISSN: 0007-1005 • E-ISSN: 1467-8527 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/00071005.2012.756170 |
| OpenAlex | W2078100825 |
| Language | EN |
| Citations received | 20 |
| References cited | 30 |
This paper estimates the effects of human capital skills largely created through education on life's chances over the life cycle. Qualifications as a measure of these skills affect earnings, and schooling affects private and social non-market benefits beyond earnings. Private non-market benefits include better own-health, child health, spousal health, infant mortality, longevity, fertility, household efficiency, asset management and happiness. Social benefits include increased democratisation, civil rights, political stability, reduced crime, lower prison, health and welfare costs, and new ideas. Individual benefits enhance community-wide development. New ‘narrow’ social rates of return using UK Labour Force earnings correct for institutional costs, longitudinal trends and ability. The paper's objective, however, is to estimate these earnings plus non-market outcomes comprehensively without overlaps and also relative to costs. Non-market outcomes are measured by averaging regression coefficients from published studies that meet scientific standards. New UK ‘narrow’ social rates of return average 12.1 per cent for short-cycle and 13.6 per cent for bachelor's programmes. Augmented with non-market effects on life chances, they are over twice that. Short degrees are found effective for regional development and have potential for developing countries
Engineering ethics · Sociology · Economic Growth and Productivity · Engineering · Fiscal Policy and Economic Growth · Income, Poverty, and Inequality · Psychology
Fundações corporativas
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| Unique citing works | 20 |
|---|---|
| Citations per year | 1,82 |
| Citation span | 2015 - 2026 (12) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 18 |