James Heckman, a Nobel Prize-winning economist at the University of Chicago, has shown that investments in early childhood education pay for themselves. Indeed, he argues that they pay a return of 7 percent or more — better than many investments on Wall Street.
“Schooling after the second grade plays only a minor role in creating or reducing gaps,” Heckman argues in an important article this year in American Educator. “It is imperative to change the way we look at education. We should invest in the foundation of school readiness from birth to age 5.”
One of the most studied initiatives in this area was the Perry Preschool program, which worked with disadvantaged black children in Michigan in the 1960s. Compared with a control group, children who went through the Perry program were 22 percent more likely to finish high school and were arrested less than half as often for felonies. They were half as likely to receive public assistance and three times as likely to own their own homes.
via www.nytimes.com
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