Volume 10, Number 1 (Winter) 1975
Link, Charles R., and Edward C. Ratledge. 1975. "Social Returns to Quantity and Quality of Education: A Further Statement." Journal of Human Resources 10(1):78-89.
Data from a large sample of young black and white males (out of school) are utilized to analyze the impact of the quantity and quality of education (district-wide annual expenditures per student) on earnings. Large but diminishing returns to incremental expenditures are observed. The findings also suggest that education's role in the large relative gains in black earnings during the1960s worked through quality instead of quantity aspects. Finally, the returns to education are sensitive to the specification of the potential labor market experience variable.
The authors are, respectively, Assistant Professor, Department of Economics, University of Delaware, and Associate Director, Division of Urban Affairs, University of Delaware. Our research was made possible by a General Faculty Research grant at the University of Delaware. We would like to acknowledge the helpful comments of the editor and the anonymous referees. Errors or omissions are the sole responsibility of the authors.
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