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ERIC Number: EJ767505
Record Type: Journal
Publication Date: 2006
Pages: 10
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: ISSN-1061-1932
A Tentative Discussion on Education Investment and Consumption
Tieming, Zhang
Chinese Education and Society, v39 n5 p7-16 Sep-Oct 2006
The emergence of the "education investment and consumption" concept is an inevitable product of the development of China's socialist market economy. In this article, the author discusses the reasons for the emergence of the education investment and consumption concept: (1) a growing focus on the individual in the national income distribution; (2) large increases in residents' rates of savings; (3) yearly decline of the dependent child index and gradual lightening of the financial burden resulting from family size; and (4) increase in society's recompense rate for individuals' intellectual abilities. The theoretical result of the education investment and consumption concept is the establishment of the "education as an economic sector theory." The education economic sector theory is an enrichment of classical educational economics as well as an important breakthrough in the country's traditional theory of educational economics. There is no question that the growing clarification of the education investment and consumption concept and the education as an economic sector theory this concept has triggered is of universal and real significance for the country's studies on educational reform. This revolution in the concept of education--a revolution of historic significance--is bound to furnish a new point of departure for China's educational reform in the 21st century and bring about a new educational setup with Chinese characteristics. (Contains 1 table and 10 notes.)
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: China