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The Price We Pay: Economic and Social Consequences of Inadequate Education


reviewed by David N. Plank May 22, 2008

coverTitle: The Price We Pay: Economic and Social Consequences of Inadequate Education
Author(s): Clive R. Belfield and Henry M. Levin (Eds.)
Publisher: Brookings Institution, Washington D.C.
ISBN: 0815708637, Pages: 273, Year: 2007
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Despite their well-deserved and fiercely protected reputation as practitioners of the dismal science, economists do tell jokes. One of the best known features an eminent economist and her young colleague walking down a city street. The younger economist spots a twenty-dollar bill lying on the sidewalk and bends to pick it up. The senior scholar tells him not to bother: “If it were there, someone would already have taken it.” In The Price We Pay, Clive Belfield, Hank Levin and a distinguished group of contributors seek to measure the amount of money that Americans leave on the sidewalk by failing to ensure that a larger percentage of American youngsters graduate from high school. (High school graduation is the authors’ chosen standard for an adequate education, one that many young Americans fail to achieve.) To accomplish this task they provide the empirical materials for a sophisticated cost-benefit analysis, comparing the cost of... (preview truncated at 150 words.)


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Cite This Article as: Teachers College Record, Date Published: May 22, 2008
http://www.tcrecord.org ID Number: 15259, Date Accessed: 10/18/2017 2:38:16 PM

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About the Author
  • David Plank
    Policy Analysis for California Education
    E-mail Author
    DAVID N. PLANK is Executive Director of Policy Analysis for California Education (PACE), an independent policy research center based at Berkeley, Stanford, and the University of Southern California. His current research interests focus on the shrinking role of the State in national education systems, and on the ways in which academic research influences educational policy.
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