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Human Capital Investment for State Economic Development (Western Governors Assoc., 1988)

Human Capital Investment for State Economic Development (Western Governors Assoc., 1988)

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Published by Lewis J. Perelman
This case study represents an effort to develop a comprehensive picture of the entire "portfolio" of investments made in human capital throughout the economy of a single state. It found: an unbalanced distribution of budgets to needs; little or no accountability for results; absence of choice and competition; limited productivity of public investments.
This case study represents an effort to develop a comprehensive picture of the entire "portfolio" of investments made in human capital throughout the economy of a single state. It found: an unbalanced distribution of budgets to needs; little or no accountability for results; absence of choice and competition; limited productivity of public investments.

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Published by: Lewis J. Perelman on Oct 06, 2011
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10/06/2011

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HUMANCAPITALINVESTMENTFORSTATEECONOMICDEVELOPMENTACASESTUDYOFASTATEGOVERNMENT"PORTFOLIO"
by
Lewis
J.
Perelman
Western
Governors'AssociationJuly1988
WesternGovernors'Association
60017thStreetSuite1705SouthTower
Denver.Colorado80202~5442
 
TABLEOFCONTENTSSUMMARY
i
FOREWORDBYGovernorRoyRomerxiINTRODUCTION
I-I
COLORADO·PORTFOLIO·--STATEPROGRAMSANDINVESTMENTSCatalogofPrograms
2-1
StatisticalSummaryandCharts
2-41
COLORADO·PORTFOLIO·--ISSUESANDOBSERVATIONS
3-1
CONCLUSIONSANDRECOMMENDAnONSTheColorado·PortfoliTheQualityoftheInvestmentPortfolioColorado'sRelativePositionRecommendationsEpilog:LessonsforMappingAnInvestmentPortfolio
4-14-2
4-84-8
4-12
APPENDICESA.TheEcologyofHumanCapitalInvestment
B.
KindsofLearningforaProductivePopulationC.ANoteonthePrivateSectorA-I
B-1
C-IABOUTTHEAUTHOR
 
SummaryHUMANCAPITALINVESTMENTFORSTATEECONOMICDEVELOPMENTACaseStudyofaStateGovernment"Portfolle"byLewis
J.
PerelmanWhilethereisgrowingconcernabouttheroleofeducationandtraininginstateeconomicdevelopment,aswellasinternationalcompetitiveness,governorsandotherpolicyrnakerslackaclearpictureofhowinvestmentsintheseandrelatedformsofhumanresourcedevelopmentactuallyleadtoanimpactontheeconomy.Thisreportrepresentsaninitialandlimitedefforttowardsdevelopingacomprehensivepictureoftheentire"portfolio"ofinvestmentsinhumancapitalcreationmadethroughouttheeconomvofasinglestate.Asapilotproject,thestudythatproducedthisreportfocusedonColorado,andonthehumancapitalinvestmentsmadeonlybyorthroughthestategovernment.TocompletethepicturetracedsofarofhumancapitalinvestmentinColorado,furtherresearchisneededontheactivitiesoflocalgovernmentsandespeciallyontheinvestmentsmadebytheprivate,nongovernmentalsector.Yetthefindingsofeventhislimitedstudyraiseimportantquestionsabouttheadequacyandfocusofmanyrecenteducationreformandjobtrainingefforts:Whilethemajorityofstatetaxdollarsisinvestedinhumanresourcedevelopment,hardlyanyisspenttomeetthebasiceducationneedsoftheadultworkforce.Thereislittleaccountabilitytoeithertheconsumerorthetaxpayerforresultsfromtheselargeexpenditures.Andtheproductivityoftheprogramsthatreceivethelion'sshareofthesefundsispooranddeclining.Toremedytheseflaws,theentirestateeducationandtrainingsystemneedstobefundamentallyrestructured.BACKGROUND
It
isnosecrettothegovernorsthatthestatesandtheU.S.asawholefaceagrowinghumancapitalcrisis.Afifthofthecurrentworkforceisfunctionallyilliterateandanotherfifthisonlymarginallyliterate.Acceleratingjobandcareertransitionsmeanthatmostworkersfindtheiracquiredtrainingandexperiencerenderedobsoleteeveryfivetosevenyears.Meanwhile,over80%ofthenewentrantstotheU.S.workforceduringthenextdecadewillbefemalesorminorities--groupsthatnowaredisproportionately"atrisk"ofacademicfailureordeficientbasicskillsordiscriminatorybarrierstotheirmostproductiveemployment.Evenwhiletheworkforceasawholeisdecreasinglycompetenttoperformexistingjobs,theintellectualandskillrequirementsoffuturejobsareexpected
to
steadilyadvance.ArecentreportoftheCongressionalOfficeofTechnologyAssessmentemphasizesthatthe"learningenterprise"--thebusinessoftraining,education,andotherprocessesoflearningthatdevelophumanresources--isbecomingevermorecriticaltoeconomicdevelopment.Asthestructureoftheeconomyhasshiftedfromonebasedonmaterialsandproductiontoonebasedonknowledgeandlearning,strongbasicskillsandcontinual.lifelongretrainingandreeducationhavebecomecrucialforaoroductiveworkforce.Yetsimplyspendingmoreontrainingandeducationisneitheraneffectivenoranavailablesolution.Theproductivityrecordoftheeducationsectoristhepoorestofany
-i-

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