Sunday, August 30, 2009

How much does education matter?

Greg Mankiw thinks that correlating SATS scores and subsequent earned income misses the point that inherited intelligence are a factor in both. This appears to be supported by the graph in Alex Tabarrok's blog that shows "higher parental income predicts higher child income but only for biological children and not for adoptees."

David Davis points out that the £45,000 true cost of a university education is not always recouped by graduate earnings. (See also Charles Hugh Smith's piece, "Is Higher Education Worth a Lifetime of Debt?")

I have read that there is a positive correlation between shoe size and IQ. Public policy is to buy big shoes for everybody so they get smarter.


James Higham said...

"higher parental income predicts higher child income but only for biological children and not for adoptees."

That's interesting - not for adoptees, eh?

Sackerson said...

Doubtless a complex set of causes. Thanks for your courtesy in keeping commenting, James. BTW, have you read my first story?

Paddington said...

I know that both education experts and psychologists will generally disagree with me, but my observation is that one's basic intelligence and personality are set at birth, and mostly genetic.

Most people accept this for all creatures, other than humans. After all, why are Labrador Retrievers so popular?

Of course, it really screws with the rich and powerful men who ditch their first wives and marry a dumb trophy wife, doesn't it?

Fred said...

It costs a lot more than £45000 to go to university.

Remember you will do "A" levels only for Univoersity entrance and then spend 3 years on a degree course. So that is 5 years with no earnings. If you earned an everage wage during that time you would take in £100,000 in earnings as well as escaping £30,000 in student debt. So the real cost is nearer £130,000.

Consequently I am encouraging my highly-intelligent kids to do something more original with their brains than follow the sheep to uni. What chance of making big bucks out of a university education when degrees are handed out like confetti?

Sackerson said...

Hi, Fred. Wonder what they'd do with say half that money in a first business, then the other half when they's made their learner's mistakes and gone bust?