The Global Version of More Money is Not Equal to Better Education

The Global Version of More Money is Not Equal to Better Education, by Dan Mitchell.

More and more money gets plowed into the system (even after adjusting for inflation!), but the only effect is that school systems hired more bureaucrats. …

A study by a scholar from the World Bank and Harvard’s Kennedy School: “Cross national data show no association between the increases in human capital attributable to rising educational attainment of the labor force and the rate of growth of output per worker.” …

Here’s some statistical analysis from Professor Garett Jones of George Mason University. “Between the 60’s and the 90’s every country in this sample boosted its average years of education – it was a golden age of alleged human capital investment.” …

[The] data clearly shows that dumping more money into education doesn’t work.

So perhaps the problem is the way the money is getting spent, not the amount.

That’s why the moral of the story is that we need to break up government school monopolies and harness the power of the market by giving parents and students genuine school choice.

For what it’s worth, there’s strong evidence that choice produces good outcomes in the limited instances where it is allowed in the United States. …

Needless to say, eliminating the Department of Education is part of the solution.

School vouchers would allow people to choose whatever school they wanted, while retaining government funding of education — it would be more equitable. Competition would improve quality.