The economics of educational reform

Abstract This paper examines key proposals for improvements in elementary and secondary education from an economic perspective, and considers their likely effects. The role of the family as ‘producer’ of the skills and competences is emphasized, combining the effects of teacher, parent and community resource inputs on achievement. The approach raises questions about efficiency, effectiveness, cost-effectiveness, the role of incentives and equity that should have been more adequately addressed in the reports advocating educational reform.