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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: koan who wrote (93960)2/9/2009 6:53:44 AM
From: Oblomov5 Recommendations  Read Replies (2) of 116555
 
>>Moderates made liberas take out 25 billion for education. that was real smart.
>>A society can never spend too much on education!!! They will always get it back in multiples of expenditure!

Then why is government required to allocate this $25B to training (education is a greatly misused term), when private allocation decisions have not done so? If the ROI is at least 200% ("we always get it back in multiples of expenditure") on training expenditures, and there is not a diminishing marginal return, then why don't we allocate 100% of GDP to training? If the ROI is >200%, then it is a much more profitable activity than making steel or growing food or whatever. So why shouldn't everyone just get training instead of engaging in other economic activity?
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