Arizona State and Local Government Documents Collection

Education decisions are among the most important choices people ever make. So we were surprised and disappointed to see an article so loosely reasoned and reckless in its conclusions as “Five Reasons to Skip College” published in Blank Slate at Forbes.com on April 18, 2006. The article never provides a numerical assessment of the costs and benefits of going to college, uses statistics inappropriately and in a way that biases the conclusions against college, contains conceptual errors on how to evaluate the return on a college education, and greatly exaggerates the only substantive criticism of typical evaluations of the financial worth of a college degree.

The state government general fund shortfall in the current fiscal year is projected to be between about $550 million and $1 billion. This shortfall will need to be eliminated through spending cuts and/or revenue enhancements. The Legislature has demonstrated a preference for spending cuts. However demand does not decline during a recession for most public-sector services, including university services. Any reduction in funding for universities will have a negative and direct effect. A reduction in state government spending for universities of around $200 million would cause direct and indirect job losses of approximately 4,000. A substantial decrease in state government funding for universities will have negative consequences beyond these short-term effects.

High quality early childhood programs have proven effective in raising educational attainment and improving earnings and labor market performance. These results are all the more appealing in light of the general ineffectiveness of adult retraining programs. In the area of crime prevention, sociologists and criminologists have also turned their attention to early childhood intervention programs. In contrast to juvenile treatment programs, early interventions hold special promise in that they are preventative rather than crisis-oriented and take place before anti-social behavioral patterns become entrenched. The purpose of this report is to provide a comprehensive look at the economic issues surrounding early care and education in Arizona.

Economic convergence was only a matter of time for Ireland. That it happened when it did and in such a short period of time was the result of both thoughtful decision-making on the part of many stakeholders and a favorable set of external economic developments. To continue to achieve rapid economic growth, however, Ireland will not be able to rely on increased labor utilization but must succeed in raising output per worker. This, in turn, will require more entrepreneurial activity and participation higher value-added activities. Ireland will need to participate more in the creation of knowledge and not simply be operational in the application of knowledge-based technologies. Arizona, like Ireland in the 1980s, has an opportunity to change its growth trajectory. Arizona can follow Ireland’s lead today and pursue the returns that can accrue from strategic investments or continue on its current path.

Growth in the stock of knowledge has been the most important factor behind the dramatic rise in living standards in the United States and other countries over the past 100 years. Systematic efforts made by firms, universities, governments, and other organizations to increase the stock of knowledge are referred to as research and development (R&D). The purpose of this paper is to provide an overview of the entire system of R&D in the United States—or as it is sometimes called, the national innovation system. Special emphasis will be placed on basic research. This is the component of R&D that is most likely to be underprovided by the private sector and the one that figures most prominently in public policy toward science and technology. The report also emphasizes the role of universities that, in the United States, perform the lion’s share of basic research.

The report provides a variety of basic statistical indicators of R&D effort and identifies recent trends in sources of R&D funding. The report also reviews classic arguments on the appropriate role of government in supporting R&D and the strengths and weaknesses of universities as performers of R&D. The U.S. national innovation system is compared with those in other major industrialized countries.

This paper provides a review of studies that examine the extent to which university research promotes local economic growth and development. The primary focus of the paper is on economic impacts that derive from the innovative outputs of faculty. this paper evaluates Arizona State University and the Phoenix metropolitan area in terms of factors that enhance the local economic impact of university research. The potential for local impacts from ASU’s research and graduate programs is greatly aided by the fact that ASU is located in a major metropolitan area with a climate and other natural amenities that mobile professional workers find attractive.

The analysis of the value of higher education contained in this report represents an important dimension of the P3 research agenda since measuring the value of educated workers can provide empirical context for understanding the importance of an educated and skilled workforce in a modern economy. In this report, the increases in individual earnings realized from enhanced educational attainment are measured and the benefits to the economy and society in general that are provided by a highly educated workforce are examined.

The theory of factor market distortions deals largely with taxing inputs. However, input subsidies are not only common in manufacturing. For example, U.S. agriculture is heavily dependent on input subsidies.
If water subsidies in the production of California cotton were removed, along with commodity payments, production of cotton in California would likely cease. Likewise, transportation subsidies were common in both the U.S. and Canada, and still prevail in the U.S.

The economic theories of New Institutional Economics, auctions, and welfare economics are used to analyze the potential for E-Commerce as an institution within the agricultural sector. We discuss the theory of the firm within the NIE paradigm and focus on the potential for E-Commerce to reduce transaction costs, search costs, and the costs associated with buying and selling livestock under various auction formats. We develop a theoretical model that captures the effect of Internet feeder-cattle auctions on Florida’s cattle market at three different levels in the marketing channel. We discuss the institutional arrangements and marketing mechanisms associated with the marketing of stocker and feeder cattle in Florida. We present the results of a survey distributed to cattle producers in North Florida regarding herd size, direct transaction costs of marketing cattle, and the implications of internet technology. Finally, we perform an empirical welfare analysis in order to estimate the impact of reduced transaction costs associated with Internet and video livestock auctions on cow-calf operators and backgrounders in Florida.

We investigate the underlying reasons for producers’ choice of marketing channels for stocker cattle in the United States. In addition to traditional public auctions, private sales, video auctions, and Internet auctions have been recently used in the marketing of stocker cattle. We find that while the number of marketing options may have increased in recent years, only relatively large producers can actually take advantage of these options. The marketing options for smaller producers are still limited due to their relative size. We also find that the number of cattle marketed privately and through video and Internet auctions is positively correlated with herd size. In addition, the New Institutional Economics provides insights into how herd size influences the choice of marketing channels.