An additional prize in memory of Alfred Nobel was added in 1969 in the area of economics. Our primacy in the development of new knowledge has translated into leadership in applied science and technology, which is one of the main driving forces of our economy. The value of education. One indicator of the value which our society places on education can be found in data on the earning power of workers with different educational histories. Using data from the Bureau of Labor Statistics, I compared earnings of workers with college bachelor's de- grees to earnings of high school graduates with no college.
Older data tells a similar story with respect to longer-term earnings.
The message from the employment marketplace is loud and clear. A college education pays. It pays those who receive the education, and through their increased purchasing power, benefits the economy as a whole. Our university system is fundamentally sound. Of course, there is always room for improvement.