人力资本投资

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教育投资回报率下降,为什么还要上大学?
虎嗅APP· 2025-08-10 08:51
Core Viewpoint - The article discusses the changing landscape of education in China, highlighting a shift in student preferences towards practical and employment-oriented choices rather than traditional prestigious institutions. This reflects a broader transformation in the education system amid a complex job market with a record number of graduates. Group 1: Changing Preferences in Education - High-scoring students are increasingly opting for less prestigious universities with better employment prospects over top-tier institutions with less favorable job outcomes [4][6][7] - The number of college graduates in China reached a record high of 12.22 million, leading to a complex employment situation for graduates [4][6] - The traditional view of prestigious universities as the primary path to success is being challenged as students and parents become more rational in their choices, focusing on the alignment of majors with job market demands [7][8] Group 2: Employment Market Dynamics - The employment market has undergone significant changes due to macroeconomic factors, affecting the job prospects of graduates in certain fields, particularly in industries like real estate and education [7][9] - The expansion of higher education has led to a situation where the supply of graduates exceeds demand, resulting in a decline in the return on investment for a university education [13][14][15] - The average salary of college graduates has decreased relative to the average salary in society, indicating a growing disparity in employment quality [16] Group 3: Skills and Education Reform - There is a pressing need for educational institutions to adapt their curricula to better prepare students for the evolving job market, emphasizing practical skills and interdisciplinary learning [10][11][27] - The importance of soft skills, such as communication and teamwork, is increasingly recognized as essential for employability in the modern workforce [28][33] - The article suggests that universities should focus on enhancing students' adaptability and lifelong learning capabilities to meet the demands of a rapidly changing job market [10][11][39] Group 4: Future Opportunities and Challenges - The rise of artificial intelligence and automation presents both challenges and opportunities for the job market, with predictions of job displacement in certain sectors but also the creation of new roles [30][32][34] - The aging population in China is expected to drive demand for jobs in the care industry, presenting new opportunities for graduates [24] - The article emphasizes the need for a comprehensive approach to employment policies that align with educational reforms to address structural employment issues [37][39]
余永定:不存在“消费驱动增长”,“十五五”应再推类似四万亿的大项目
Sou Hu Cai Jing· 2025-06-10 08:04
Group 1 - The article argues that the notion of "consumption-driven" growth does not exist in the long-term economic growth context, emphasizing that economic growth is fundamentally driven by investment [3][5][10] - It highlights that the debate between "investment-driven" and "consumption-driven" growth should differentiate between long-term growth strategies and short-term macroeconomic adjustments [3][10] - The author suggests that the current low consumption rate in China is not necessarily indicative of a need for a consumption-driven model, as the relationship between consumption and economic growth is complex and requires further empirical research [3][5][11] Group 2 - The article references Marxist and neoclassical economic theories, stating that higher savings rates lead to increased investment and, consequently, faster economic growth, while higher consumption rates can slow down growth [4][5][9] - It discusses the importance of investment in driving technological progress, indicating that technological advancements are closely linked to various forms of investment [5][6] - The relationship between consumption and investment is characterized as a trade-off in the short term, but complementary in the long term, where decisions on resource allocation impact future consumption [10][11]