Higher Learning, Greater Good by Walter W. McMahon
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Higher Learning, Greater Good
By Walter W. McMahon

Higher Learning, Greater Good

The Private and Social Benefits of Higher Education

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Format: Hardback

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Higher Learning, Greater Good by Walter W. McMahon

Book Awards

  • Winner of PROSE Awards: Education 2009.

Book Description

A college education has long been acknowledged as essential for both personal success and economic growth. But the measurable value of its nonmonetary benefits has until now been poorly understood. Walter W. McMahon, a leading education economist, carefully describes these benefits and suggests that higher education accrues significant social and private benefits. McMahon's research uncovers a major skill deficit in the United States and other OECD countries owing to technical change and globalization. Yet a college degree brings better job opportunities, higher earnings, and even improved health. Higher education also promotes democracy and sustainable growth and contributes to reduced crime and lower state welfare and prison costs. These social benefits are substantial in relation to the costs of a college education. Offering a human capital perspective on these and other higher education policy issues, McMahon suggests that poor understanding of the value of nonmarket benefits leads to private underinvestment. He offers policy options that can enable state and federal governments to increase investment in higher education.

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Book Details

ISBN: 9780801890536
ISBN-10: 0801890535
Format: Hardback
(229mm x 152mm x 32mm)
Pages: 432
Imprint: Johns Hopkins University Press
Publisher: Johns Hopkins University Press
Publish Date: 24-Mar-2009
Country of Publication: United States

Books By Author Walter W. McMahon

Education and Development by Walter W. McMahon Education and Development, Paperback (January 2002)

This text develops an approach to measuring the total returns to human resource development through investment in education. Drawing on microanalytic foundations, it uses regional and worldwide data to estimate the net marginal contributions of education and new knowledge.

» View all books by Walter W. McMahon


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Author Biography - Walter W. McMahon

Walter W. McMahon is Professor of Economics Emeritus and Professor of Education Emeritus at the University of Illinois at Urbana-Champaign. He is well known internationally as a leading economist of education and is the author of Education and Development: Measuring the Social Benefits.

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Education and Development by Walter W. McMahon
Education and Development by Walter W. McMahon
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