Private rate of return to investments in higher education are high. I agree that for most people in the developing world depend on primary and secondary education. In fact, social returns to these levels, especially for primary schooling, are high. I also agree that people need skills to survive in the world of work. One of the most important skills are the cognitive abilities they develop in basic education. Thus, both to capitalize on social returns – and to take advantage eventually of high private returns at the post-secondary level – we need to raise the quality of primary education.