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An Actuarial Basis for Industrial Education

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Considerations like the foregoing have determined the fundamental method of the Cleveland Industrial Survey. Plans for the present generation have been formulated on the basis of future prospects as foretold by state and federal census data. The methods used were characterized by a member of the Cleveland Foundation Survey Committee as "the actuarial basis of vocational education." This is accurately descriptive, because the method of forecasting the number of men the community will need for each wage-earning occupation closely resembles that employed by life insurance actuaries in foretelling how long men of different ages are likely to live. Such methods are similar to those commonly used in commerce and industry. They deal with mass data rather than with individual figures, and with relative values rather than with absolute ones.



Wage Earning and Education

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