Skip to main content Accessibility help
×
Hostname: page-component-5c6d5d7d68-txr5j Total loading time: 0 Render date: 2024-08-16T02:28:47.050Z Has data issue: false hasContentIssue false

6 - Human Capital : Investing in Oneself and One's Family

Published online by Cambridge University Press:  06 July 2010

W. Keith Bryant
Affiliation:
Cornell University, New York
Cathleen D. Zick
Affiliation:
University of Utah
Get access

Summary

Fully 25 percent of the U.S. population, 72.7 million people, were enrolled in school in 1999. Of those in school, 6.3 percent were in nursery school, 52.7 percent were enrolled in kindergarten or elementary schools, 20.5 percent were enrolled in high schools, and 20.5 percent were enrolled in institutions of higher education (U.S. Bureau of the Census 2000b, Table 239, p. 151, and Table 259, p. 162). These numbers exclude the millions of people who took private lessons in everything from sewing to music, from religion to skiing and hang gliding. The United States devoted 6.7 percent of its gross national product, $601 billion, to schools and schooling in 1999. Of this sum, $372 billion was spent on elementary and secondary schools, and $239 billion was spent on colleges and universities (U.S. Bureau of the Census 2000b, Table 240, p. 151). These figures ignore the billions of dollars of potential income students chose not to earn by virtue of their being in schools and colleges.

Turning to the nation's investment in and maintenance of their health stock, Americans spent $1113.7 billion on health services and medical facility construction in 1998 and $19.3 billion on medical research in 1998, an amount totaling 13.5 percent of GDP (U.S. Bureau of the Census 2000b, Table 151, p. 108). This excludes all of the expenditures on recreation equipment and lessons that build and maintain healthy bodies. Also excluded is the value of the time Americans spent in maintaining their health.

Type
Chapter
Information
Publisher: Cambridge University Press
Print publication year: 2005

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×