The Role of Education in the Economy教育在经济中的作用.pptVIP

The Role of Education in the Economy, Attachment 1 The Role of Education in the Economy The Role of Education in the Economy, Attachment 1 Capital Human Capital Bank Account Shares of Stock Assembly line Steel plant Schooling Training course Expenditures in medical care Lecture on virtues of punctuality and honesty The Role of Education in the Economy, Attachment 1 Education is an investment in human capital Virtuous Circle Education Wealth Investment in human capital The Role of Education in the Economy, Attachment 1 Public Sector Education Private Sector Human Capital The Role of Education in the Economy, Attachment 1 The most important producer of human capital in the U.S. is…. The Public Education System The Role of Education in the Economy, Attachment 1 Education is the greatest contributor to economic productivity. The Role of Education in the Economy, Attachment 1 Architect Carpenter Electrician Mortgage lender Plumber The Role of Education in the Economy, Attachment 1 The Role of Education in the Economy, Attachment 1 * See first two paragraphs of “Human Capital” article by Gary Becker: /library/Enc/HumanCapital.html * Human capital is essential to the creation of wealth. Human capital is more important than natural resources in wealth creation. Increases in human capital = more educated workers= more skills/creativity/pride= more productivity. Investment benefits society through the production of goods and services. Virtuous Circle: More education= more wealth created= more funds available for investment. All over the world, educational achievement and economic success are clearly linked. Education expenditures benefit both the individual and society. * Education is produced in the public sector via government (taxation) as well as in the private sector (private individuals, companies and churches sponsor many schools as well) Allocating economic resources to education is one of the primary responsibilities of local, state and federal lawmakers. * T