Measuring Investment in Education

Eric A. Hanushek
Published Date
Fall 1996
Journal of Economic Perspectives
pp. 9-30
Political campaigns, from the U.S. presidency to local city elections, are routinely fought on the grounds of which candidate most favors investing in the education of our children. lacking any definitive way of demonstrating such sentiments, however, the issue frequently come down to which candidate is willing to spend the most tax dollars supporting local public schools. reinforcing this position is a series of judicial proceedings that have for 30 years revolved around state constitutional requirements mandating the equitable provision of public education, a requirement generally cast in the courts purely in terms of equity of financial support for local school districts. On an international scale, the foundation of the aid programs of national governments and international agencies interested in fostering development of less developed countries has been investment of added resources aimed at boosting the human capital of the youth and thus ensuring the future growth of these economics.