Quality is free: A cost-benefit analysis of early child development initiatives.
High-quality early child development initiatives are expensive. However, careful analysis of the returns on investment for such initiatives establishes that, from the government's perspective, the initiatives all but pay for themselves. The explanation for this is twofold. First, early childhood interventions enhance adult employability and earnings of program participants. This generates $8.2 billion in tax revenues that partially offset program costs. Second, early childhood interventions reduce the need for expensive remedial programs such as special education and medical treatment, reducing government expenditures by $4.9 billion.
Rotman School of Management, University of Toronto; Canadian Institute for Advanced Research, Toronto, Ontario.
Daniel
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Trefler