It is commonly supposed that colleges help to reduce inequality by providing paths for individuals to rise beyond modest origins. Reviewing evidence from more than 1,000 colleges, elite and not, the author argues that baccalaureate education's power to reduce inequality has actually declined,...

We study the dynamics of the quantity and quality of teachers in the framework of dynamic general equilibrium OLG model. The quantity and quality are jointly set by a government agency wishing to maximize the quality of basic education per student while being bound by teachers’ collective...