The influence of education in one generation on attitudes and educational attainments in the next generation has been long discussed. This paper presents an empirical method for placing a monetary value on these intergeneration effects. The data presented are essentially illustrative of a general approach. Estimates will be presented of internal rates of return in one generation from educational investment in the preceding generation. Rates of return will be estimated from a "social" point of view-costs including actual education expenditures per student and also earnings foregone-and from a narrower point of view which considers only actual money expenditures.
|Journal||The Journal of Political Economy|
|State||Published - 1965|