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The Economic Value of Education

reviewed by Ellis Weitzman - 1964

coverTitle: The Economic Value of Education
Author(s): T.W. Schultz
Publisher: John Wiley, New York
ISBN: , Pages: , Year:
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The wisdom of the Ford Foundation in selecting Professor Theodore W. Schultz to review the past and suggest the future direction of research into the economics of education is amply demonstrated in this brief but significant volume. Painfully aware of the difficulties besetting anyone attempting to make quantitative judgments concerning the dollar value of schooling, this author nevertheless succeeds admirably in pointing out some major oversights in past efforts and the complex questions yet to be answered before a truly accurate estimate can be achieved. All concerned with the costs and returns on our investment in education would do well to consider the tentative estimates as well as the problems posed in Schultz's insightful evaluation of educational economics. Certain key concepts are emphatically reiterated throughout this brief work. The first of these is the failure of past studies to include, in estimating the cost of schooling, the earnings foregone by the... (preview truncated at 150 words.)

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Cite This Article as: Teachers College Record Volume 66 Number 3, 1964, p. 274-274
https://www.tcrecord.org ID Number: 2593, Date Accessed: 6/13/2021 8:09:59 PM

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