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Phoenix666 [soylentnews.org] writes:

New research presented this week at the Royal Economic Society Conference from our Department of Social & Policy Science questions the commonly held belief that more education is 'good for you' and results in higher wages and better life outcomes [phys.org].

The new study, by Dr Matt Dickson, with collaborator Dr Franz Buscha, examines for the first time in the UK, the relationship between wages and education over the entire life-cycle.

Its finds that:

        An additional year of schooling from the 1972 education reform in England and Wales resulted in a lifetime earnings loss of up to £45,000 over a 35-year period.
        Experience matters. Minimum school leaving age reforms might increase education but they also lead to a loss of potential labour market experience.
        The effect of experience lost is not overcome until individuals are in their mid-30s.
        When only the 'pure' education effect is examined, results suggest a positive return of approximately £60,000 over a 35-year period.

The report raises important questions about why education and investment in human capital are important and whether more education implies that people earn higher salaries. In addition it challenges when such effects are felt over a life-course and how might our current generation of children be affected by the recent raising of the participation age to 18.

Now you have hard research to back you up when you tell that professor reading Kant will harm your life.

Original Submission