This book tackles the role of universities in driving economic growth. Their role as providers of talent, technology and new ideas is considered in the light of the 2008 Global Financial Crisis. A series of expert authors consider success, opportunity and how national frameworks can be fine-tuned to deliver business success.
The chronic underinvestment in higher education has serious ramifications for both individuals and society. Winner, Best Book in Education, 2009 PROSE Awards, Professional and Scholarly Publishing Division, Association of American Publishers Winner, Best Book in Education, PROSE Awards, Professional and Scholarly Publishing Division, Association of American Publishers A college education has long been acknowledged as essential for both personal success and economic growth. But the measurable value of its nonmonetary benefits has until now been poorly understood. In Higher Learning, Greater Good, leading education economist Walter W. McMahon carefully describes these benefits and suggests that higher education accrues significant social and private benefits. McMahon's research uncovers a major skill deficit and college premium in the United States and other OECD countries due to technical change and globalization, which, according to a new preface to the 2017 edition, continues unabated. A college degree brings better job opportunities, higher earnings, and even improved health and longevity. Higher education also promotes democracy and sustainable growth and contributes to reduced crime and lower state welfare and prison costs. These social benefits are substantial in relation to the costs of a college education. Offering a human capital perspective on these and other higher education policy issues, McMahon suggests that poor understanding of the value of nonmarket benefits leads to private underinvestment. He offers policy options that can enable state and federal governments to increase investment in higher education.
This book addresses topics related to the role of post-secondary education in national economic development within the United States. The chapters summarize the research literature and synthesize what economists and other social scientists have learned about the contribution of higher education to economic growth. Attention is given to the research, teaching and service missions of higher education in stimulating economic growth and development. This book focuses on the economic and social gains to the nation as a whole and follows up on The Economics of American Higher Education edited by Becker and Lewis (Kluwer Academic Publishers, 1992), which dealt primarily with the effects of higher education on the gains of individuals.
How do the benefits of higher education compare with its costs, and how does this comparison vary across individuals and institutions? These questions are fundamental to quantifying the productivity of the education sector. The studies in Productivity in Higher Education use rich and novel administrative data, modern econometric methods, and careful institutional analysis to explore productivity issues. The authors examine the returns to undergraduate education, differences in costs by major, the productivity of for-profit schools, the productivity of various types of faculty and of outcomes, the effects of online education on the higher education market, and the ways in which the productivity of different institutions responds to market forces. The analyses recognize five key challenges to assessing productivity in higher education: the potential for multiple student outcomes in terms of skills, earnings, invention, and employment; the fact that colleges and universities are “multiproduct” firms that conduct varied activities across many domains; the fact that students select which school to attend based in part on their aptitude; the difficulty of attributing outcomes to individual institutions when students attend more than one; and the possibility that some of the benefits of higher education may arise from the system as a whole rather than from a single institution. The findings and the approaches illustrated can facilitate decision-making processes in higher education.
This book examines the role that higher education institutions are currently playing through teaching entrepreneurship and transferring knowledge and innovation to enterprises and discusses how they should develop this role in the future.
This book addresses innovation management and product development in the cruise tourism industry. It explains how experience management has evolved from a strictly company-level, product- or service-focused tactical task to an industry-wide strategic challenge, and analyses the role of intangible reputational aspects of cruise experiences, as well as peripheral components and stakeholders, as increasingly important factors for customer acquisition and retention. Safety and risk issues are a central theme, as well as the cruise sector’s environmental and socio-economic impacts. Lastly, the book considers the increasing size of cruise vessels and the accompanying standardisation of facilities and itineraries, in conjunction with the hybridisation of cruise passengers in connection with expanding the competitive boundaries and intensity of competition in the cruise sector. The book approaches these issues as more than a mere public relations campaign, recognising the fact that they have since become the very essence of strategic cruise business development.
The purpose of this book is to offer higher education leaders, scholars, consultants, and observers a full range of strategy tools that can be applied to the higher education industry. This is accomplished by a) introducing new concepts and tools to give a comprehensive view of strategy making in higher education, beyond strategic planning, b) demonstrating the value of the concepts and tools through description and application for different types of institutions (universities, community colleges, for-profit colleges, etc.) and at different levels within institutions (institutional, college, department, etc.), and c) providing guidance on the appropriate uses of the various tools. The last point is especially important, as applying business-like principles to higher education often receives heavy criticism. The book helps readers decipher the appropriate uses of different strategy tools to the higher education industry, but the book also points out dangers and weaknesses. All of this is done within today’s context of political, economic, demographic, and global realities.
This book provides a careful historical analysis of the co-evolution of educational attainment and the wage structure in the United States through the twentieth century. The authors propose that the twentieth century was not only the American Century but also the Human Capital Century. That is, the American educational system is what made America the richest nation in the world. Its educational system had always been less elite than that of most European nations. By 1900 the U.S. had begun to educate its masses at the secondary level, not just in the primary schools that had remarkable success in the nineteenth century. The book argues that technological change, education, and inequality have been involved in a kind of race. During the first eight decades of the twentieth century, the increase of educated workers was higher than the demand for them. This had the effect of boosting income for most people and lowering inequality. However, the reverse has been true since about 1980. This educational slowdown was accompanied by rising inequality. The authors discuss the complex reasons for this, and what might be done to ameliorate it.