I’m sympathetic to the case that education is signaling, but I think that case is less strong for early education. For instance this paper from Argentina uses teacher strikes to value a year of education at 6% of lifetime earnings.
That estimate is not wildly different and seems pretty immune to signaling.
I’m sympathetic to the case that education is signaling, but I think that case is less strong for early education. For instance this paper from Argentina uses teacher strikes to value a year of education at 6% of lifetime earnings.
That estimate is not wildly different and seems pretty immune to signaling.