Thursday, July 18, 2013

circuit — "You want to make sure you have sustainable economic growth? Invest in your kids"

Here's what economist James Heckman has to say about one of the studies that concluded high-quality early childhood learning is beneficial to a child's performance later in life:
"What did we learn? Many things. It's very successful in terms of the economic performance of the children. For each dollar invested you get back somewhere between 7 and 10 percent rate of return per year over the lifetime of the child. Which is a huge rate of return."
Behind this impressive rate of return are large amount of statistics showing that children who were enrolled in a high-quality early childhood program performed significantly better in school (and later in life) than those who weren't.
The obvious next question is what type of early education produces the best results overall, that is, holistically, not only economically. This obviously requires an operational definition of holistic with respect both the person and education. 

Holism can viewed in terms of excellence, i.e., actualizing potential in an integrated way. What is the potential of human being is the first question, and how to achieve it optimally is the next. 

This clearly goes far beyond economic efficiency and rate of economic return over life. Or, unfortunately  maybe it doesn't for some.

Fictional Reserve Barking
"You want to make sure you have sustainable economic growth? Invest in your kids"
circuit

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