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The External Social Benefits of Higher Education: Theory, Evidence, and Policy Implications
Journal of Education Finance Pub Date : 2021-06-29
Walter W. McMahon

abstract:

This paper provides a conceptual framework for the articles that follow in this special issue by exploring how the external social benefits of higher education contribute to higher sustainable rates of per capita development of families and nations. It presents a fundamental rethinking of economic development that explains the major role of education, and of higher education and its relation to new ideas, as well as of education finance both intuitively and using a formal model. Empirical estimates of social externalities specific to higher education are summarized. The paper also develops guidelines for policies. It concludes that there is substantial underinvestment in higher education and that privatization of higher education finance has reached or exceeded its economic efficiency limits in the US and probably in England.



中文翻译:

高等教育的外部社会效益:理论、证据和政策影响

摘要:

本文为本期特刊中的后续文章提供了一个概念框架通过探索高等教育的外部社会效益如何有助于提高家庭和国家的人均可持续发展率。它提出了对经济发展的根本性反思,从直觉上和使用正式模型解释了教育、高等教育及其与新思想的关系以及教育财政的主要作用。对特定于高等教育的社会外部性的实证估计进行了总结。该文件还制定了政策指导方针。它的结论是,高等教育投资严重不足,高等教育财政私有化已经达到或超过了美国和英国可能的经济效率极限。

更新日期:2021-06-29
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