This paper provides three pieces of analysis. First, an economic theory account of the reasons that governments may have to intervene in the maket for education is offered. This account is based on insights from both the neoclassical (market) paradigm and the information paradigm. Second, it...

Returns to investment in education based on human capital theory have been estimated since the late 1950s. In the 40-plus year history of estimates of returns to investment in education, there have been several reviews of the empirical results in attempts to establish patterns. Many more...

One of the key features of the Dutch education system is freedom of education -- freedom to establish schools and organize teaching. Almost 70% of schools in the Netherlands are administered by private school boards, and all schools are government funded equally. This allows school choice. Using...

We examine the importance of adult functional literacy skills for individuals using a quantile regression methodology. The inclusion of the direct measure of basic skills reduces the return to schooling by 27%, equivalent to two additional years of schooling, while a one standard deviation...

One of the key features of the Dutch education system is freedom of education – freedom to establish schools and organize teaching. Almost 70% of schools in the Netherlands are administered by private school boards, and all schools are government funded equally. This allows school choice....