EarlyChildhoodEducationforAll:AWiseInvestment
I.INTRODUCTION
Inatimeofscarcepublicresources,thecareandeducationofyoungchildrenwillcontinuetofalltothebottomoftheprioritylistuntilthereisashiftinpublicunderstandingabouttheeconomicsofraisingthenextgeneration.High-qualityearlychildhoodeducationistoovitaltobebrushedasideasasocialservicesexpenditureforonlyafewfamiliesorastooexpensivetoconsiderintightbudgetarytimes.
Earlyeducationisimportantforallchildren.Andstudyafterstudyshowsthatitisnottooexpensive.
Quitethecontrary.
Investmentsinqualitychildcareandearlychildhoodeducationdomorethanpaysignificantreturnstochildren—ourfuturecitizens.Theyalsobenefittaxpayersandenhanceeconomicvitality.Economicresearch—byNobelPrize-winnersandFederalReserveeconomists,ineconomicstudiesindozensofstatesandcounties,andinlongitudinalstudiesspanning40years—demonstratethatthereturnonpublicinvestmentinhighqualitychildhoodeducationissubstantial.
OnDecember9and10,,LegalMomentumandtheMITWorkplaceCenterattheSloanSchoolofManagementsponsoredaconference,“TheEconomicImpactsofChildCareandEarlyEducation:FinancingSolutionsfortheFuture,”thatledtothisreport.Itbroughttogethersome80scholars,expertsandactivistsfromaroundthecountrytoexaminetheeconomicsofearlychildhoodeducationandtodeterminehowtoeffectivelypresentthisnewinvestmentunderstandingtopolicymakersandvoters.ThepartnersinthiseffortwereLegalMomentum’sFamilyInitiativeandtheMITWorkplaceCenter;co-sponsorswereTheNationalEconomicDevelopmentandLawCenter,TheEarlyCareandEducationCollaborativeandTheCenterforPolicyAlternatives.
Untilnow,aconsiderable“blindspot”hasblockedthepublicfromseeingthefieldofearlychildhoodeducationineconomictermsorthinkingaboutcreativewaystofinance,strengthenandenhanceitsgrowth.Whilevirtuallyeverystatehasmaintainedeconomicdevelopmentfundingathighlevelsinordertoaidjobgrowth,stateafterstatehasmadecutbacksinchildcare,preschoolandafterschoolprograms.
Thisapproachisshort-sighted.Theresearchpresentedinthisreport—a