3-29 - theres a good deal of marginal return of college,...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
The idea of social return is built around the concept that schooling is socially productive. Society gets higher marginal product from educating kids Signalling: Privately the people who do well in college are already productive, so all that schooling does is sort out who the alphas and betas are. Privately, it’s beneficial—
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: theres a good deal of marginal return of college, but socially, there is none, because college only sorts out the people for employers, and they would have been sorted out eventually anyway. Is education simply a signaling device or does it actually make people more productive?...
View Full Document

Ask a homework question - tutors are online