In contemporary times, the return on education investment should be lower and lower. After all, in modern society, more and more people go to college. Moreover, going to school is to find a job, and work requires academic qualifications. Assuming that the investment in education is based on a university diploma, the amount of investment in education has not changed much before and now, but because of the increasing number of university diplomas, the qualifications required by the job are getting higher and higher, which is equivalent to the same university diploma. The previous job salary is much higher than the current job salary, which is equivalent to the same investment amount, but the return is reduced. This means that if you want to have your previous salary, then you need more investment. Then when the investment increases, it can only achieve the same effect as before. In fact, this is equivalent to a lower and lower return on investment.

Mincer equation, LnW=B, is the most commonly used to calculate the rate of return on education. +B？ S+B？ EXP+B？ EXP？ +lnW is the natural logarithm of future wages. It is an additional interference factor, and experience is work experience. By taking the partial derivative of s, you can get 1/W? (? W/？ S)=B this b? It is the return of investment in education. According to this public test and picture, it can be estimated that the return on education investment should be getting lower and lower.

but

Mincer ignores the problem of endogenous variable deviation, that is, natural ability can change the rate of return on education (for example, Dr. Baidu Zhang Yaqin from the Junior Class of the Chinese University of Science and Technology). So the rate of return on education is also relative to different talents. In addition, in the Mincer equation, they ignored the heterogeneity of education. Ignoring the heterogeneity in education leads to different results.

Therefore, although the return on investment in education is getting lower and lower, it will become higher because of something different, but for most people, the return on investment in education is still lower.

The key is to look at people.