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Ask most of us here at The Family Place why we were drawn to the field of social services and you’ll get answers that focus on making a difference in the lives of children, or making the world a better place for all families. Few of us, maybe none, will respond with the rate of economic return.

But we’re learning that economics is a major part of the world of social services. James J. Heckman, Professor of Economics at The University of Chicago and a Nobel Memorial Prize winner, has been couching the conversation about early childhood within an economic framework and the data he points to is compelling.

“Investment in early education for disadvantaged children from birth to age 5 helps reduce the achievement gap, reduce the need for special education, increase the likelihood of healthier lifestyles, lower the crime rate, and reduce overall social costs. In fact, every dollar invested in high-quality early childhood education produces a 7 to 10 percent per annum return on investment.”
– “The Economics of Inequality; The Value of Early Childhood Education” American Educator, Spring 2011

In other words, the more support we give to families now, the stronger our overall economy will be in the future.

Take a look at Professor Heckman’s comprehensive website and join the conversation. Now we have even more reasons to do the work we do.