The Heckman curve was a powerful economic model that provided a simple yet profound insight — of the relationship between age and the rate of return

 

The Heckman curve was a powerful economic model that provided a simple yet profound insight — of the relationship between age and the rate of return on investments in human capital. Heckman found that every dollar invested in early childhood education yields a return that ranges from $7 to $12, with lasting impacts: children who receive quality early education are four times more likely to have higher earnings and three times more likely to own a home as adults. By age five, many gaps in outcomes — such as earning potential and quality of life —are already evident. Children often struggle throughout life if motivation and learning habits are not nurtured early.