Critiques of conventional models for evaluating the utility of organizational human resource policies. Questions the implicit assumption that utilities are invariant across changing labor market conditions, and concludes that omission of these considerations overstates the likely utility of the programs being evaluated. (TE)

This paper updates available evidence on the costs to society associated with noncompletion of school by substantial numbers of American youth. The only comparable treatment of this topic was published in 1972 by Henry M. Levin. The findings of this earlier study are recast to account for current earnings projections and price levels, and for…