Category THE PATH FROM CAUSE TO EFFECT

Rustling Sheepskin in the Lone Star State

Schooling means many things, and every educational experience is different. But economists look at diverse educational experiences and see them all as creating human capital: a costly investment in skills from which we also expect to see a return. Some students, like Bertie Gladwin, enjoy school for its own sake and show little interest in economic returns. But many more probably see their schooling as stressful, tiring, and expensive. In addition to tuition costs, time spent in school could have been spent working. Many college students spend relatively little on tuition, but all full-time students pay an opportunity cost...

Read More