Final answer:
True, continued education typically enhances human capital, leading to increased economic activity per individual through better employment and higher income.
There are limits, however, as the benefits of education can diminish beyond a certain level or if not aligned with market needs.
Step-by-step explanation:
True, staying in school and continuing to learn new skills and abilities should generally result in an increase in economic activity for each individual.
Education is closely tied to the development of human capital, a term that refers to the economic value of a worker's experience and skills. This includes factors like education, training, intelligence, skills, health, and other things employers value that increase productivity.
As individuals obtain additional education, they tend to improve their skills and knowledge, becoming more valuable to employers.
This can lead to better job opportunities, higher wages, and a greater ability to adapt to new technologies or industries.
While additional education might mean deferring earning income and living with financial constraints in the short term, the long-term benefits of education on one's career prospects and economic standing can be significant.
However, it's important to acknowledge that there are limits to the benefits of education. The relationship between education and economic payoff isn't always linear.
Beyond a certain point, further education may not lead to a commensurate increase in income, especially if the education is not aligned with market demands or if it reaches a level of advanced specialization with a limited job market.