Private and Social Returns to Education

Investment in human capital generates significant private returns. Why do governments use public funds to subsidize an investment that has significant private benefits? In this paper, I explore the theoretical rationales for public intervention in education, with a particular focus on human capital externalities. I also describe the existing empirical evidence on the relevance of each of these rationales.

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Year of publication:	2006
Authors:	Moretti, Enrico
Published in:	Rivista di Politica Economica. - SIPI Spa, ISSN 0035-6468. - Vol. 96.2006, 3, p. 3-46
Publisher:	SIPI Spa

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Type of publication:	Article
Language:	English
Classification:	I2 - Education
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008555388