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How do we measure the economic return to higher education Typically it is calculated as the difference between average wages of college graduates and those who have not graduated from college. In 1997, for example, college graduates earned an average of ＄ 40, 508 versus just ＄ 23, 970 for non-college graduates. Based on these income levels, the economic return to a college education is approximately 69 percent, the difference between the two income levels. But this simple calculation ignores the fact that college graduates tend to come from higher socioeconomic levels, are more highly motivated, and probably have higher IQs than non graduations. Although these factors influence inc0mes, they are not the result of college attendance. Therefore the result of the study is an overstatement of the returns to higher education. More sophisticated analyses adjust for these extraneous influences. For instance economists Orley Ashenfelter and Alan Krueger, estimate that each year of post-high school education results in a wage premium of between 15 and 16 percent. Their study is particularly relevant because they examined the earnings differences for identical twins with different education levels, allowing them to control for genetic and socioeconomic factors. Other research puts the wage premium for college graduates at nearly 50 per cent. Unfortunately, you can’t spend a college wage premium. Income levels for the average college graduate have stagnated. After adjusting for inflation, the average income of college graduates holding full-time jobs rose by only 4. 4 per cent between 1979 and 1997, or at a minuscule annual rate of 0.2 percent. At the same time, workers with only high-school degrees saw their real income plummet by 15 percent. Bottom line: the much-ballyhooed college wage "premium" is due primarily to the fall in inflation-adjusted salaries of workers who haven’t been to college. In fact, if you don’t go on to graduate school or are not among the top graduates at one of the nation’s elite colleges, chances are your sky-high tuition is buying you no economic advantage whatsoever. In recent decades the flood of graduates has been so great that an increasing proportion have found themselves, within a few years, working as sales clerks, cab drivers, and in other jobs that do not, require a college degree. In 1995, approximately 40 percent of people with some college education--and 10 percent of those with a college degree—worked at jobs requiring only high-school skills. That’s up from 30 percent and 6 percent, respectively, in 1971. Which of the following statements is NOT true
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Wal-Mart presented little new information in its first major report on efforts to become greener, but it was enough to encourage some environmental groups to say that the world’s largest retailer is trying. The report released Thursday details dozens of sustainability programs ranging from environmental to economic development, employee health care and ethics in overseas factories where it buys goods.Most have been disclosed previously, but the 64-page report is the first comprehensive catalog of dozens of programs--from organic cotton clothes to low-energy freezer cases--adopted since Chief Executive Lee Scott set three green goals in October 2005. Those goals are to be supplied 100 percent by renewable energy, to create zero waste and to sell products that help sustain resources and the environment. Scott did not set any timelines, although there are deadlines for some of the steps along the way. Scott said in a foreword that the report shows Wal-Mart Stores Inc. is making progress, but still has work to do. He reiterated Wal-Mart’s stated theory of two years ago that reducing its environmental impact is a smart business move because it saves money and produces better products.Environmental Defense, which works with large companies including Wal-Mart to help them design and implement green plans, welcomed the report. "The company is moving in the right direction, and learning as it goes," the group said in a statement. Environmental Defense is the only green group to open an office, with two staff members, in Wal-Mart’s headquarters town of Bentonville, Arkansas, to coordinate the effort.Environmental Defense said, however, that Wal-Mart must provide more data and context in the sustainability report. For example, it said, the report lists new low-flow sinks that cut water use in some store bathrooms, but does not specify how many stores use the technology and what water use was before the installations."Our takeaway is that over the last two years, Wal-Mart has built the foundation for a robust environmental program with many innovative and potentially transformational projects," Environmental Defense said. According to Environmental Defense, what could Wal-Mart do to improve its report().
How do we measure the economic return to higher education Typically it is calculated as the difference between average wages of college graduates and those who have not graduated from college. In 1997, for example, college graduates earned an average of ＄ 40, 508 versus just ＄ 23, 970 for non-college graduates. Based on these income levels, the economic return to a college education is approximately 69 percent, the difference between the two income levels. But this simple calculation ignores the fact that college graduates tend to come from higher socioeconomic levels, are more highly motivated, and probably have higher IQs than non graduations. Although these factors influence inc0mes, they are not the result of college attendance. Therefore the result of the study is an overstatement of the returns to higher education.More sophisticated analyses adjust for these extraneous influences. For instance economists Orley Ashenfelter and Alan Krueger, estimate that each year of post-high school education results in a wage premium of between 15 and 16 percent. Their study is particularly relevant because they examined the earnings differences for identical twins with different education levels, allowing them to control for genetic and socioeconomic factors. Other research puts the wage premium for college graduates at nearly 50 per cent.Unfortunately, you can’t spend a college wage premium. Income levels for the average college graduate have stagnated. After adjusting for inflation, the average income of college graduates holding full-time jobs rose by only 4. 4 per cent between 1979 and 1997, or at a minuscule annual rate of 0.2 percent. At the same time, workers with only high-school degrees saw their real income plummet by 15 percent. Bottom line: the much-ballyhooed college wage "premium" is due primarily to the fall in inflation-adjusted salaries of workers who haven’t been to college.In fact, if you don’t go on to graduate school or are not among the top graduates at one of the nation’s elite colleges, chances are your sky-high tuition is buying you no economic advantage whatsoever. In recent decades the flood of graduates has been so great that an increasing proportion have found themselves, within a few years, working as sales clerks, cab drivers, and in other jobs that do not, require a college degree.In 1995, approximately 40 percent of people with some college education--and 10 percent of those with a college degree—worked at jobs requiring only high-school skills. That’s up from 30 percent and 6 percent, respectively, in 1971. According to the last paragraph, ().
Wal-Mart presented little new information in its first major report on efforts to become greener, but it was enough to encourage some environmental groups to say that the world’s largest retailer is trying. The report released Thursday details dozens of sustainability programs ranging from environmental to economic development, employee health care and ethics in overseas factories where it buys goods.Most have been disclosed previously, but the 64-page report is the first comprehensive catalog of dozens of programs--from organic cotton clothes to low-energy freezer cases--adopted since Chief Executive Lee Scott set three green goals in October 2005. Those goals are to be supplied 100 percent by renewable energy, to create zero waste and to sell products that help sustain resources and the environment. Scott did not set any timelines, although there are deadlines for some of the steps along the way. Scott said in a foreword that the report shows Wal-Mart Stores Inc. is making progress, but still has work to do. He reiterated Wal-Mart’s stated theory of two years ago that reducing its environmental impact is a smart business move because it saves money and produces better products.Environmental Defense, which works with large companies including Wal-Mart to help them design and implement green plans, welcomed the report. "The company is moving in the right direction, and learning as it goes," the group said in a statement. Environmental Defense is the only green group to open an office, with two staff members, in Wal-Mart’s headquarters town of Bentonville, Arkansas, to coordinate the effort.Environmental Defense said, however, that Wal-Mart must provide more data and context in the sustainability report. For example, it said, the report lists new low-flow sinks that cut water use in some store bathrooms, but does not specify how many stores use the technology and what water use was before the installations."Our takeaway is that over the last two years, Wal-Mart has built the foundation for a robust environmental program with many innovative and potentially transformational projects," Environmental Defense said. When did the Chief Executive Lee Scott set three green goals().
Do It Yourself Magazine organizes a competition every summer to elect the“Handyman of the year”. The winner of this year iS Mr．Roy Miller. a Sheffield postman. A journalist and a photographer have come to his house. The journalist is interviewing Mr. Miller for an article in the magazine.W：Well, I’m very impressed by all the work you’ve done on your house, Mr. Miller. How long have you been working on itM：I first became interested in Do-it-Yourself several years ago. You see, my son Paul is disabled. He’s in a wheel-chair and I just had to make alterations to the house. I couldn’t afford to pay workmen to do it. I had to learn to do it myself.W：Had you had any experience in this kind of workDid you have any practical skillsM：No. 1 got a few books from the library but they didn’t help very much. So I decided to go to evening classes so that I could learn basic carpentry and electrical wiring.W：What sort of changes did you make to the houseM：First of all, practical things to help Paul. You never really realize the problems handicapped people have until it attacks your own family. Most government buildings, for example, have steps up to the door. They don’t plan buildings so that disabled people can get in and out. We used to live in a flat, and of course, it was totally unsuitable. Just imagine the problems a disabled person would have in your house. We needed a larger house with wide corridors so that Paul could get from one room to another. We didn’t have much money and we had to buy this one. It’s over ninety years old and it was in a very bad state of repair.W：Where did you beginM：The electrical. I completely rewired the house so that Paul could reach all the switches. I had to lower the light switches and raise the power-points. I went on to do the whole house so that Paul could reach things and go where he needed.W：What else did you doM：By the time I’d altered everything for Paul, do-it-yourself had become a hobby. I really enjoyed doing things with my hands. Look, I even installed smoke-alarms.W：What was the purpose of thatM：I was very worried about fire. You see, Paul can’t move very fast. I fitted them so that we would have plenty of warning if there were a fire. I put in a complete burglar-alarm system. It took weeks．The front door opens automatically. and I’m going to put a device on Paul’s wheelchair so that he’ll be able to open and close it when he wants.W：What are you working on nowM：I’ve just finished the kitchen. I’ve designed it so that he can reach everything. Now I’m building an extension so that Paul will have a large room on the ground floor where he can work.W：There’s a $10,000 prize. How are you going to spend itM：I am going to start my own business so that I can convert ordinary houses for disabled people. I think I’ve become an expert on the subject. Mr Miller enjoys doing things with his own hands.().
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