On the Monetary Value of Education's Intergeneration Effects

Burton A. Weisbrod, William J. Swift

Research output: Contribution to journalArticlepeer-review

Abstract

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.
Original languageEnglish
Pages (from-to)643-649
JournalThe Journal of Political Economy
Volume73
StatePublished - 1965

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