| Summary Note |
"Investing in equity in education and in reducing dropout pays off. According to one estimate, if all 15-year-olds in the OECD area attained at least Level 2 in the PISA mathematics assessment, they would contribute over USD 200 trillion in additional economic output over their working lives (OECD, 2010a). While such estimates are never wholly certain, they do suggest that the benefits of improving individuals’ cognitive skills dwarf any conceivable cost of improvement. Improving students’ performance in school can also encourage healthier lifestyles and participation in democratic institutions and other civil society initiatives and organisations - all of which reduces the cost to society. The Survey of Adult Skills, conducted by the OECD in 2012, shows that skills are positively associated with self-reported good health, political interest and interpersonal trust (OECD, 2013a). Crime and other illegal activities may decrease, since better-educated people tend to be less involved in criminality (OECD, 2010b). Indeed many economic and social problems, such as teenage pregnancy and unhealthy habits, are linked to low levels of educational attainment and skills. Strengthening equity in education, and investing in the early years, also yield high returns. Starting strong in education makes it easier to acquire skills and knowledge later on. For children from disadvantaged backgrounds, access to early education not only contributes to equity, but is, in the long run, economically efficient as well (Cunha and Heckman, 2007; Heckman, 2008)." - p. 19. |
