Is Learning A Foreign Language Really Worth It? - Freakonomics Radio

Freakonomics Radio puts politics and personal views behind, and approaches subjects as economists. In this episode, the debate is not whether or not a student should learn a foreign language, but what is the return on investment (ROI) of learning a language.

How many of us have tried to learn a language? The average student spends 2-3 years studying a foreign language. I studied Spanish for two years in high school. I stopped after the second year because I forgot a lot of what I learned in between semesters. The topic of this episode was on the value of learning a new language, and if it is worth it for students to learn.

One consultant of the episode was Boaz Keyser, a professor at the University of Chicago. He conducted many studies on the subject. In one, a game was played with his grad students where each were given $20. There were 20 rounds of the game, each costing $1. Students could either pocket the dollar or bet the dollar by flipping a coin. If they won the coin toss, they were given $2.50. The study found that students were more likely to take risks when the game was played in a second language. Saiz says this could be due to various emotions attached to words in their own language. When they hear the same words in a different language, there is less emphasis on the meaning behind the words.

This study showed how thinking in a different language can affect us, and the study makes sense. If I were to see a sign marked "Danger" vs. "Peligro" I would be more afraid of the Danger sign because I am able to associate more danger related words to that quicker.

Albert Saiz, an economist at MIT conducted a study that showed those who learn a new language do earn more, but nothing significant. The average graduate who learned a new language earned 2 percent more than a peer who didn't. That means if the income is $30,000, they would earn just $600 more per year. The lowest return on investment is Spanish at 1.5% more earnings.

To discuss opportunity costs, Bryan Caplan of George Mason University was brought in. He says that under 1% of students learning a language in school claim to have learned it "very well." School instruction on language accounts for 1/6 the time a student is in high school.

"It makes me think that people are spending 3 years of their lives to acquire very few skills." - Bryan Caplan 

Though Caplan is in love with the German language and its culture, the economist in him wonders if learning a new language is worth it for students.

Is learning a new language worth it? It does stretch the mind and gets us to connect with other cultures. For many, learning about a new culture through their language is worth it right there. But from a monetary standpoint, it may not be. Since learning a new language doesn't account for a much higher income, students could be spending time in high school learning more valuable skills. In my failed attempt to learn Spanish, I could have used that time to take four other classes. Whether or not my time spent in a language class will hurt my future earnings, I will never know.