> But none of this is expressed in the calculation that measures the "value" of education by the personal financial gain an individual can achieve. Therefore I argue that this measure is not suitable to measure the value of education.
I agree, that would be a very short-sighted calculation. Luckily, that's not even close to the calculation that Bryan Caplan did and is talking about.
I'm not sure if we're actually disagreeing or arguing past each other. Bryan Caplan wrote a book about whether education is "worth it", in many senses - both the personal "is it worth it for me" aspect, but also the "is it worth it for society" aspect. He delved into multiple different topics as part of this question - including, I believe, questions like the ones you raise. (It's been a while since I read his book).
You are not fundamentally disagreeing with the notion of calculating the value of education. You're disagreeing with a specific calculation that you think I (or someone else) did, but which isn't the actual calculation done by anyone.
I agree, that would be a very short-sighted calculation. Luckily, that's not even close to the calculation that Bryan Caplan did and is talking about.
I'm not sure if we're actually disagreeing or arguing past each other. Bryan Caplan wrote a book about whether education is "worth it", in many senses - both the personal "is it worth it for me" aspect, but also the "is it worth it for society" aspect. He delved into multiple different topics as part of this question - including, I believe, questions like the ones you raise. (It's been a while since I read his book).
You are not fundamentally disagreeing with the notion of calculating the value of education. You're disagreeing with a specific calculation that you think I (or someone else) did, but which isn't the actual calculation done by anyone.