> One of the key things left out is the baseline cost of time. A few years of your life is not free and probably makes for a pretty high baseline cost. Hm, wou

> One of the key things left out is the baseline cost of time. A few years of your life is not free and probably makes for a pretty high baseline cost. Hm, wouldn't that already be accounted for in using 'lifetime earnings'? If someone doesn't go to college and earns $1m, and another person goes to college and earns $1.1m, then the extra 4 working years apparently didn't compensate enough. Plus, college can be a lot more fun than working.