The Profit Motive in Education: Continuing the Revolution

105 Pages Posted: 20 Jul 2012 Last revised: 23 Aug 2013

See all articles by James Stanfield

James Stanfield

University of Newcastle

Steven Horwitz

Ball State University

Daniel Bennett

Florida State University - Department of Economics

Barbara Bergstrom

Internationella Engelska Skolan (IES)

Peje Emilsson

Independent

Frederick M. Hess

American Enterprise Institute

Anders Hultin

Independent

Adam Lucchesi

Independent

J. R. Shackleton

Westminster Business School

Richard K. Vedder

Ohio University - Department of Economics

Toby Young

West London Free School

Tom Vander Ark

Independent

Date Written: July 19, 2012

Abstract

The UK government - in common with the governments of many Western countries - is in the midst of implementing policies to reform education. However, the government has, as a matter of principle, decided that profit-making schools cannot provide state-funded education even if they would lead to substantial improvements in quality.

This monograph makes the case for widespread acceptance of the profit motive in education. It does so not by presenting statistics that demonstrate that profit-making organisations could drive up quality - there is already a substantial literature on this. Instead, the authors show how profit-making organisations could create an entirely new dynamic of entrepreneurship and innovation. As well as improving quality and reducing costs within existing models, such an approach could lead to the development of completely new ways of providing education.

The authors of this monograph have a range of international experience. Many of them have run profit-making schools in countries more accepting of the profit motive than the UK, such as Sweden. Others have struggled against the odds to participate in education reform programmes in the UK. Overall, this collection makes an important contribution to the international debate about education reform.

Suggested Citation

Stanfield, James and Horwitz, Steven and Bennett, Daniel and Bergstrom, Barbara and Emilsson, Peje and Hess, Frederick M. and Hultin, Anders and Lucchesi, Adam and Shackleton, J. R. and Vedder, Richard K. and Young, Toby and Vander Ark, Tom, The Profit Motive in Education: Continuing the Revolution (July 19, 2012). Institute of Economic Affairs Monographs, Readings 65, 2012. Available at SSRN: https://ssrn.com/abstract=2112956

James Stanfield (Contact Author)

University of Newcastle ( email )

5 Barrack Road
Devonshire Building
NEWCASTLE UPON TYNE, NE1 7RU
United Kingdom

Steven Horwitz

Ball State University ( email )

Department of Economics
Ball State University
Muncie, IN 47306
United States
765 285 5384 (Phone)

Daniel Bennett

Florida State University - Department of Economics

Tallahassee, FL 30306-2180
United States

Barbara Bergstrom

Internationella Engelska Skolan (IES)

Nytorpsvägen 5A
18353 Täby
Stockholm
Sweden

Peje Emilsson

Independent

No Address Available

Frederick M. Hess

American Enterprise Institute ( email )

1150 17th Street, N.W.
Washington, DC 20036
United States
202-828-6030 (Phone)
202-828-7178 (Fax)

Anders Hultin

Independent

No Address Available

Adam Lucchesi

Independent

No Address Available

J. R. Shackleton

Westminster Business School

35 Marylebone Road
London NW1 5LS
0207 911 5075 (Phone)

Richard K. Vedder

Ohio University - Department of Economics ( email )

Athens, OH 45701-2979
United States
740-593-0142 (Phone)
740-593-0097 (Fax)

Toby Young

West London Free School

Cambridge Grove
Hammersmith
London, W6 0LB
United Kingdom

Tom Vander Ark

Independent

No Address Available

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