This book sets forth a mordern human capital approach to higher education policy in the United States, and in other OECD member countries. It emphasises the nature, measurement, and valuation of the private and social benefits of higher education – with special attention to the non-market private and social benefits, direct and indirect effects, and short and long term effects – all in relation to the total investment costs. This includes drawing on the theory and analysis of sources or endogenous development, economic efficiency, and market failure to identify current higher education policy gaps and devise viable policy options as solutions.
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