The Economic Impact of Quality Early Care

There is an ever increasing body of research which proves that the care children receive in their early years of life significantly impacts their future success, and ultimately the future workforce. A strong early childhood lasts a lifetime. Invest in quality because our children, and our future, depends on it.

The Heckman Equation

James Heckman’s groundbreaking work with a consortium of economists, developmental psychologists, sociologists, statisticians and neuroscientists has proven that the quality of early childhood development heavily influences health, economic and social outcomes for individuals and society at large. Heckman has proven that there are great economic gains to be had by investing in early childhood development. Heckman is the Henry Schultz Distinguished Service Professor of Economics at The University of Chicago, a Nobel Memorial Prize winner in Economics, and an expert in the economics of human development.

Heckman discusses how skills beget skills, which makes it easier to acquire skills in future years.

Content and video from the Heckman Equation website.

Art Rolnick

According to the Director of Research at the Federal Reserve Bank of Minneapolis, Art Rolnick, and the Regional Economic Analyst, Rob Grunewald, investing in early childhood has a stronger return on investment than any other child and family service.

Children who participate in enriched early childhood programs are more successful in school and earn more income throughout their working lives. They are also less likely to impose costs on others in terms of classroom disruption and grade retention when they are young, or by engaging in antisocial or criminal behavior later when they become adults.

Read their publication: Early Childhood Development: Economic Development with a High Public Return >>