Galbraith Sees Education From View of Economists

Education has an intrinsically dual character for the economist, John Kenneth Galbraith, Paul M. Warburg Professor of Economics, declared last night at Sanders Theatre. Galbraith, who may spend the Spring Term in New Delhi, contrasted the viewpoint of education as a capital investment to that of a consumption good.

Traditionally, he noted, the country has considered education as a consumption good, perhaps more valuable than tobacco, but still to be treated with Puritan restraint. Recently, the tendency to approach education with the attitude of an investor has become more prevalent, he claimed.

With this new approach, according to Galbraith, a difficult problem of evaluation arises: how good an investment is education to a given investor. Obviously, the individual receiving the education at the elementary level is unable to decide. In addition, Galbraith maintained that the corporation, often heralded as a potential source of funds, represents an "entirely false hope."

A businessman knows when he invest in a machine what utility he will derive from it. An investment in education is far less certain, though, for nothing prevents a Dupont-sponsored engineer from working for Allied Chemical.

Local communities cannot appreciate the interests of the total society, Galbraith stated, because they are occupied with regional goals.

Taken as a whole, these various factors result in discrimination against educational expenditure, according to Galbraith. With its broad revenue base and capacity to view the needs of the total society, the federal government constitutes the only reasonable agency for financing public education.

Finally, Galbraith recommended that educators themselves eliminate such "subverting nonsense" as home economics and marriage counseling courses. "Mercy should not be the ruling passion" in dealing with athletic coaches and life adjustment counsellors, he said.