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But does this take into account that most people who get college degrees come from families that are wealthier to begin with than people who don't? There is surely a parental wealth effect that leads to wealth in the next generation, but what statistical work has been done here to show that there is a college degree effect independent of family wealth?</p>
<p>Indeed, economists of education (e.g., Mark Blaug, one of the inventors of "human capital" theory) have shown that as a broad national policy, it does more to promote economic growth to have the masses get good primary education (as is done in east Asia) than to have the elites get university educations at public expense (as was done in post-colonial African countries). The year my wife was born, Zambia was wealthier than Taiwan. Today Taiwan is wealthier than several European Union countries, because the national policy favored broad public investment in primary education, while much of higher education is paid for by families individually.</p>
<p>Bill Gates is one example to test this hypothesis. He dropped out of college. He could afford to drop out of college and start a business, because he had a million dollars from his grandfather from the day he was born.
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The US has sufficient primary education either way; it is not Taiwan or Zambia. The US economy is not based on a pre-industrial system, it is post-industrial, and higher-level jobs have corresponding higher-level educational requirements, correct? Bill Gates is in many ways an exception to normal trends and therefore should not really be used as evidence for the type of point you are trying to make.</p>
<p>well about colleges, you gotta worry about paying the huge sum these days before actually going there. I mean, even UC's are getting a little expensive. about the top post, true, the rich are actually the one's who give their kids oppotunities we, as we the middle class, don't get from our parents. Anyways, the research seems quite right. Jobs nowadays are getting scarce and only the best get the desired jobs. (the ones who go to college obviously have an edge over a person who only graduated from hs.</p>
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The US has sufficient primary education either way; it is not Taiwan or Zambia. The US economy is not based on a pre-industrial system, it is post-industrial, and higher-level jobs have corresponding higher-level educational requirements, correct?
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<p>I see from your public profile that you are thinking about applying to college these days. Once you get into college, get to know a lot of the international students, and see what you think. The general view of careful researchers on primary education in different countries is that Taiwan is doing a lot BETTER than the United States (still at fewer dollars per student) and that that gives pupils there a substantial advantage in reaching the educational level need for postindustrial jobs. A really interesting book for you to read, if you have the time while preparing college applications, is Knowing</a> and Teaching Elementary Mathematics. The comparison country in that book is a different country, but the differences noted by the author between United States primary education and that in other countries generalizes to several countries. It's not so wonderful for a student to be in college in this generation if the first few years of college are remedial education catching that student up to the level of high school education two generations ago.</p>
<p>if you get an MBA outta Harvard the average salary is about 120K i believe. Most MBA's outta the top 20 end up about 90k+ per year coming out.</p>
<p>gj:</p>
<p>yes, but the folks going into H B-school have a higher salary than those at the other top 20 bcos, in the main, they are more experienced. Also, be careful when comparing salaries since many from one school may go to high-paid Wall Street which is very self-selective for the city itself since kids from Chicago or Stanford may shun NYC.</p>
<p>"if you get an MBA outta Harvard the average salary is about 120K i believe. Most MBA's outta the top 20 end up about 90k+ per year coming out."</p>
<p>But whats the same persons salary 5 years later? Probably in the hundreds of thousands im guessing.</p>
<p>51k does not seem much but it is. Just because you go to college does not guarantee you anything as sum1 else said. What if i went to some cheap ass college like Bob Jones U. Then what huh?</p>