I’ve long thought society overestimates the value of schooling (particularly secondary school).
One reason is negative spillovers (i.e, some of the benefits to individuals from education is probably from winning zero-sum games around jobs). Do you know if education RCTs have tried to take this into account (Eg—via two-step randomisation?)
Another reason I’ve been thinking about recently is the fact that most people forget most of the knowledge they learned in school, very soon after finishing school. I don’t think there’s a plausible mechanism by which this forgotten knowledge generates benefits for the individual or wider society.
I think it’s likely that the optimal age to finish school isn’t 17⁄18 as is the norm in many countries. The time we spend in school seems to have been very arbitrarily selected (eg—why not extend secondary school by 5 more years and have everyone continue a broad education if education is so beneficial?)
I also feel that the opportunity cost of more schooling isn’t discussed near enough—people could do more on-the-job training more relevant to their actual jobs instead.
Another reason I’ve been thinking about recently is the fact that most people forget most of the knowledge they learned in school, very soon after finishing school. I don’t think there’s a plausible mechanism by which this forgotten knowledge generates benefits for the individual or wider society.
It’s quite likely imo that the primary intellectual benefit of school is not knowledge (easily forgotten) but the learned cognitive endurance that makes it easier to do cognitively demanding jobs later in life. Those jobs are also better paid, and they have larger benefits to society in terms of helping a country grow. If this is the main benefit, then negative spillovers likely won’t be large, because they are taking jobs that less educated people couldn’t do. Plus, noncognitive benefits of school, in terms of better socialization, are real.
I’m not aware of direct evidence on negative spillovers, but it’s also important to point out that positive spillovers are also very plausible. More educated people can help their peers learn, not just in the classroom but also on the job. Plus if more educated people are better able to create successful businesses, then they create jobs for others in a positive-sum way.
Great piece!
I’ve long thought society overestimates the value of schooling (particularly secondary school).
One reason is negative spillovers (i.e, some of the benefits to individuals from education is probably from winning zero-sum games around jobs). Do you know if education RCTs have tried to take this into account (Eg—via two-step randomisation?)
Another reason I’ve been thinking about recently is the fact that most people forget most of the knowledge they learned in school, very soon after finishing school. I don’t think there’s a plausible mechanism by which this forgotten knowledge generates benefits for the individual or wider society.
I think it’s likely that the optimal age to finish school isn’t 17⁄18 as is the norm in many countries. The time we spend in school seems to have been very arbitrarily selected (eg—why not extend secondary school by 5 more years and have everyone continue a broad education if education is so beneficial?)
I also feel that the opportunity cost of more schooling isn’t discussed near enough—people could do more on-the-job training more relevant to their actual jobs instead.
It’s quite likely imo that the primary intellectual benefit of school is not knowledge (easily forgotten) but the learned cognitive endurance that makes it easier to do cognitively demanding jobs later in life. Those jobs are also better paid, and they have larger benefits to society in terms of helping a country grow. If this is the main benefit, then negative spillovers likely won’t be large, because they are taking jobs that less educated people couldn’t do. Plus, noncognitive benefits of school, in terms of better socialization, are real.
I’m not aware of direct evidence on negative spillovers, but it’s also important to point out that positive spillovers are also very plausible. More educated people can help their peers learn, not just in the classroom but also on the job. Plus if more educated people are better able to create successful businesses, then they create jobs for others in a positive-sum way.