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Nearly 7 years into the recovery from the Great Recession, two glaring problems remain in the U. The other is the destructive rise in income inequality in recent decades due largely to big corporations and the wealthy rewriting the rules of the economy to stack the deck in their favor.
These investments should include (but not necessarily be limited to): There are many models of successful widespread implementation of these types of investments, and research clearly demonstrates such investments would provide high societal returns.
American productivity would improve with a better-educated and healthier future workforce, inequality would be immediately reduced as resources to provide quality child care are progressively made available to families with children, and the next generation would benefit from a more level playing field that allows for real equality of opportunity.
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The recommendations concern issues such as the discount rate to use and the age to which costs and benefits should be discounted; stakeholder disaggregation; outcomes to value, the associated values, and projections of future outcomes; accounting for uncertainty; sensitivity analysis; and reporting of results.
The proposed standards can guide the choices that analysts need to make about the methods to use when performing BCAs for one or more early childhood programs and they can support greater transparency in the results the analysts provide.
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This case is strengthened by the fact that such investments would pay dividends down the road in addition to immediately improving families’ living standards.