The Consumption Benefits of Literacy (original) (raw)

This study explores the consumption benefits of education, particularly basic literacy, by examining historical data on prices of books, newspapers, and postage in the nineteenth and twentieth centuries. It argues that consumption benefits likely outweighed the pecuniary costs associated with acquiring literacy and emphasizes the significant role of government policies in enhancing literacy rates beyond traditional measures such as school provisions and labor regulations. The findings suggest that understanding the non-pecuniary benefits of education is crucial for policy analysis and educational attainment assessments.