Politicians, including those in Indiana, are going down a perverted path believing that consumers should invest in education when the returns (income) on that investment justify the expenditure.

The idea that education is an investment has merit, but its value is more than just the earnings it provides. Education is a means of opening choices and transferring societal values between generations, a function often neglected or negated by parents. It elevates consumption in the present and enhances consumption in the future.

MORTON MARCUS is an economist, writer and speaker formerly with Indiana University’s Kelley School of Business. He can be reached at mortonjmarcus@yahoo.com.

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