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1972

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Full-Text Articles in Social and Behavioral Sciences

Private And Social Returns To Education In Labour Surplus Economies, Gary S. Fields Jan 1972

Private And Social Returns To Education In Labour Surplus Economies, Gary S. Fields

Articles and Chapters

[Excerpt] The purpose of this paper is to consider the cost-benefit criterion for resource allocation in labour surplus economies calling particular attention to the contrasts with full employment economies. The specific plan is as follows. Section 1 reviews the debate over the applicability of cost-benefit analysis to problems of investment in education. Section 2 draws two important distinctions which are not always clear to educational planners and enumerates the likely benefits, both private and social, from education. Section 3 considers the case of full employment economies. Section 4 looks at the private returns to education in labour surplus economies in ...