the role of education in the economy the role of education in the economy, attachment 1
TRANSCRIPT
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The Role of Education in the Economy
The Role of Education in the Economy, Attachment 1
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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
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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
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Public Sector
Education
Private SectorHuman Capital
The Role of Education in the Economy, Attachment 1
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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
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Education is the greatest contributor to economic productivity.
The Role of Education in the Economy, Attachment 1
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Architect
Carpenter
ElectricianMortgage lender
Plumber
The Role of Education in the Economy, Attachment 1
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The Role of Education in the Economy, Attachment 1