ERIC Number: EJ1082319
Record Type: Journal
Publication Date: 2015
Abstractor: As Provided
Financing Education for the Public Good: A New Strategy
McMahon, Walter W.
Journal of Education Finance, v40 n4 p414-437 Spr 2015
A new approach is suggested that depends on and measures how spending on higher and basic education is really an investment in the future, not consumption spending. This is a vital distinction because investment in human capital contributes heavily to growth and development, but also to higher state tax revenue and lower Medicaid, child care, welfare, and criminal justice system costs as developed here. These contribute directly to the state's fiscal health and legislator's more immediate concerns. But just as with the needs to fund higher education costs and "adequacy" in K-12 funding, this criterion alone is partial. The paper develops the total return to education relative to full costs as the basic education financing criterion for whether there is under or over-investment in education for efficient family and statewide development.
Descriptors: Educational Finance, Investment, Higher Education, Elementary Secondary Education, Human Capital, Outcomes of Education, Costs, Efficiency, State Aid, Budgets, Taxes, Expenditures, Knowledge Economy, Economic Development
University of Illinois Press. 1325 South Oak Street, Champaign, IL 61820-6903. Tel: 217-244-0626; Fax: 217-244-8082; e-mail: firstname.lastname@example.org; Web site: http://www.press.uillinois.edu/journals/main.html
Publication Type: Journal Articles; Reports - Evaluative
Education Level: Higher Education; Postsecondary Education; Elementary Secondary Education
Authoring Institution: N/A
Identifiers - Location: Illinois
Grant or Contract Numbers: N/A