This report critically reviews past benefit-cost studies of manpower programs and offers an alternative methodology for program evaluation. Because of selective admission criteria and a tendency to attribute all income changes to training, previous studies have had an upward bias in measuring the effectiveness of training. This study evaluates a…

This report reviews the literature on cost-benefit analysis of retraining and discusses possible approaches to conducting such an analysis. Exemplary programs in Sweden and the United States are described. Despite the existence of externalities which preclude exact calculation of costs and benefits, the report concludes that retraining is…