The Role of Education in the Economy The Role of Education in the Economy, Attachment 1.
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The Role of Education in the Economy The Role of Education in the Economy, Attachment 1
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Transcript of The Role of Education in the Economy The Role of Education in the Economy, Attachment 1.
The Role of Education in the Economy
The Role of Education in the Economy, Attachment 1
Capital Human Capital
• Bank Account• Shares of Stock• Assembly line• Steel plant
• Schooling• Training course• Expenditures in medical
care• Lecture on virtues of
punctuality and honesty
The Role of Education in the Economy, Attachment 1
Education is an investment in human capital
Virtuous Circle
EducationW
ealthIn
vest
men
t in
hum
an c
apita
l
The Role of Education in the Economy, Attachment 1
Public Sector
Education
Private SectorHuman Capital
The Role of Education in the Economy, Attachment 1
The most important producer of human capital in the U.S. is….
The Public Education System
The Role of Education in the Economy, Attachment 1
Education is the greatest contributor to economic productivity.
The Role of Education in the Economy, Attachment 1
Architect
Carpenter
ElectricianMortgage lender
Plumber
The Role of Education in the Economy, Attachment 1
The Role of Education in the Economy, Attachment 1
