Arthur J. Reynolds is a Professor in the Institute of Child Development at the University of Minnesota and the director of the Chicago Longitudinal Study (CLS). He is also co-director of the Human Capital Research Collaborative. Reynolds investigates the effects and economic benefits of early childhood programs, and the Chicago study is one of the most extensive life course studies of early experience. His interests include child development and social policy, evaluation research, prevention science, and school and family influences on educational success and adult well-being. His publications include Success in Early Intervention: The Child-Parent Centers (2000), Early Childhood Programs for a New Century (2003), several adult follow-up studies, and two cost-benefit analyses of the Child-Parent Center Program. Arthur J. Rolnick is senior vice president and director of research at the Federal Reserve Bank of Minneapolis and an associate economist with the Federal Open Market Committee. He has been a Visiting Professor of Economics at Boston College, the University of Chicago, and the University of Minnesota. Most recently he was an Adjunct Professor of Economics in the MBA program at Lingnan College, Guangzhou, China, and the University of Minnesota's Carlson School of Management. His research interests include banking and financial economics, monetary policy, monetary history, the economics of federalism, and the economics of education. Rolnick's essays on public policy issues have gained national attention, and his work on early childhood development has garnered numerous awards, including those from Edutopia, the George Lucas Educational Foundation, and the Minnesota Department of Health. Michelle M. Englund is a research associate and affiliate member of the Graduate Faculty in Child Psychology at the Institute of Child Development, University of Minnesota. Her research interests are in the areas of education and substance use. More specifically her work in the area of education examines how relationships (with parents, peers, and teachers) influence educational success across development, and her work on substance use behaviors examines the developmental predictors of patterns of substance use in adolescence and early adulthood and adult functioning resulting from the interplay between earlier development and substance use. Englund's research has been published in Child Development, Development and Psychopathology, Addiction, and the Journal of Educational Research. She is a co-investigator on the Minnesota Longitudinal Study of Parents and Children. Judy A. Temple is an Associate Professor in the Humphrey Institute of Public Affairs and the Department of Applied Economics and Adjunct Professor in the Institute of Child Development at the University of Minnesota. Previously, she was an Associate Professor of Economics at Northern Illinois University, where she taught and conducted research in public economics. Her major interests are public economics, economics of education, early education, cost-benefit analysis, and policy evaluation. Temple's recent work focuses on evaluation of the long-term effects of early educational interventions. She conducted the economic analysis of the nationally recognized Child-Parent Center Program and is co-principal investigator in the Chicago Longitudinal Study, which has followed 1,500 young children from low-income neighborhoods into adulthood. She has published articles in the National Tax Journal, the Southern Economic Journal, the Journal of the American Medical Association, and the Economics of Education Review.