SOCIAL RETURNS TO EDUCATION
In: International social science journal: ISSJ, Band 14, Heft 4, S. 647-659
ISSN: 0020-8701
A framework for analysis of the components of private & soc returns to educ, & their interrelationships. Specifying that because of interaction phenomena, total returns will differ from the sum of individual returns, we may set up the identity: S' + S' = A' + A' + D' + D', where S refers to true soc returns, A is the sum of private returns, D is the discrepancy between S & A, & (') & (') refer, respectively, to monetary & non-monetary components of returns. It is shown that while the value of D' will normally be positive in the long term, in a dynamic society (as educ as a whole expands), presumptive discrepancies can be negative in an advanced industrial economy with strong demands for high-level skills. The components of A' are systematically presented, noting their possible negative, as well as positive, aspects. Taking interactive factors into account, the weight of the presumptions is found to be toward a positive S', but not necessarily a positive D'. AA.