ERIC Number: ED354408
Record Type: RIE
Publication Date: 1992-Dec
Investment in Learning: An Assessment of the Economic Return.
Rasell, M. Edith; Appelbaum, Eileen
Past investments in the U.S. work force--early childhood interventions, formal education, and training--have improved productivity and made important contributions both to the wages of individuals and to the growth of the economy. Excellent, comprehensive prenatal care, good nutrition, medical care, and intensive early childhood education programs would provide at-risk children with the resources needed to increase their chance to reach their full potential. Too often, society fails to provide these preventive programs and supportive services and must undertake more expensive and less effective corrective actions. Formal education has made a major contribution to U.S. economic performance and productivity growth. Educated workers are more skilled and can do their jobs more effectively. This leads to better job performance and higher earnings for individuals and to higher productivity and economic growth for society. Higher earnings may reflect other factors, however, such as family background, innate ability, and employer hiring preferences. Education is also a source of technological change and innovation. Employer-provided training has the largest effect in increasing earnings--larger than vocational and technical institutes or other forms of off-the-job training. Employer-provided training also reduces turnover and unemployment. If U.S. firms are to be organized as high performance work organizations, women and minorities, who will be the majority of new entrants to the labor force, must be guaranteed access to training. (Contains 230 references.) (YLB)
Descriptors: Competition, Continuing Education, Early Intervention, Economic Development, Education Work Relationship, Educational Benefits, Educational Economics, Educational Legislation, Educational Planning, Elementary Secondary Education, Federal Aid, Federal Legislation, Federal Programs, Females, High Risk Students, Higher Education, Human Capital, International Trade, Job Performance, Job Training, Labor Force, Labor Force Development, Labor Supply, Outcomes of Education, Postsecondary Education, Productivity, Return on Investment, Salaries, Technological Advancement, Vocational Education
Publication Type: Opinion Papers
Education Level: N/A
Authoring Institution: Investment 21, Washington, DC.