Note to Self: "Ability" and the Return to Education...
To my knowledge, Orley Ashenfelter and Ceci Rouse http://www.mitpressjournals.org/doi/pdfplus/10.1162/003355398555577 are still state-of-the-art in investigating whether the returns to education diminish with "ability." They find that at least at current levels of education they do not: the returns to those of relatively low "ability" of an additional year of education appear to be at least as high as to those of high "ability"...
Is there anything to show that there is any gender-ethnicity-"ability"-education cell in the American distribution that would not find its life-chances materially and significantly boosted if we could somehow get them an extra year of education?
