Economic Effects of Education
Bibliographic Data
| ID | 9010971 |
|---|---|
| Authors | Harold F Clark (corresponding author) |
| Year | 1930 |
| Volume | 1 |
| Issue | 3 |
| Pages | 141-148 |
| Publication date | 1930-03-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | The Journal of Higher Education (JOURNAL) |
| Journal identifiers | ISSN: 0022-1546 • E-ISSN: 1538-4640 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/00221546.1930.11775192 |
| OpenAlex | W2324572848 |
| Language | EN |
| Citations received | 3 |
T SHE old economic arguments for higher education are no longer adequate; better reasons should be advanced if education is planned in terms of the economic needs of society. Automatic machinery and modern engineering are constantly changing the occupational distribution of the world. Higher education must be a factor in the constant replanning of society in the light of these changes if it is to increase economic welfare. What are the economic effects of higher education? The answer to this question is largely in the realm of opinion at the present time. This article! is an attempt to remove part of the answer from the field of opinion to the field of fact. Before we begin the argument, it may be well to say that we are perfectly willing to admit that there may be more important reasons for supporting higher education than economic ones alone. But since it is impossible to consider everything at one time, in this paper only economic factors will be discussed. The conclusion of this article will disagree with many of the commonly accepted economic arguments for higher education. Anyone who will follow the discussion to the end will discover, I hope, better economic reasons for higher education than those commonly accepted, provided certain changes are made in the higher education. What is the current opinion regarding the economic effects of education on the individual? I quote from a recent editorial: It is estimated that a college education is worth $72,000 in the average instance. Counting $6,000 as a correct estimate of what is necessary for one to get through college, it is evident that there is a profit of 1,200 per cent to the student who carries his college studies through to the end. If one deducts the cost of education itself, it is easy to see that the college student adds to his future income at approximately the rate of $15,000 a year during the four years he is in college
Economic growth · Economics · Economics education · Higher education · Mathematics education · Political science · Higher Education Governance and Development · Higher Education Research Studies · Psychology
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,19 |
| Citation span | 2010 - 2022 (13) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |