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The External Social Benefits of Higher Education: Theory, Evidence, and Policy Implications

Walter W. McMahon

Journal of Education Finance2024https://doi.org/10.1353/jef.2024.a954739article
ABDC C
Weight
0.30

What the paper says

abstract: This paper provides a conceptual framework for the papers that follow in this edited volume 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 article 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.

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https://doi.org/https://doi.org/10.1353/jef.2024.a954739

Or copy a formatted citation

@article{walter2024,
  title        = {{The External Social Benefits of Higher Education: Theory, Evidence, and Policy Implications}},
  author       = {Walter W. McMahon},
  journal      = {Journal of Education Finance},
  year         = {2024},
  doi          = {https://doi.org/https://doi.org/10.1353/jef.2024.a954739},
}

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The External Social Benefits of Higher Education: Theory, Evidence, and Policy Implications

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Evidence weight

0.30

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.00 × 0.4 = 0.00
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.