An Economic Rationale for Public Education: The Value of Commitment

CESifo Working Paper Series No. 209

19 Pages Posted: 17 Jun 2001

See all articles by Mark Gradstein

Mark Gradstein

Ben-Gurion University of the Negev - Department of Economics; CESifo (Center for Economic Studies and Ifo Institute); Centre for Economic Policy Research (CEPR); World Bank - Development Research Group (DECRG)

Date Written: November 1999

Abstract

This paper offers an explanation for the widespread phenomenon of uniform public schooling, which is viewed here as a way for the government to precommit itself to restraints on future income redistribution. Such precommitment is likely to enhance accumulation of human capital, to bolster economic growth, and, under certain circumstances, to constitute a preferred choice for a majority of voters.

Keywords: Public Education; Human Capital Accumulation; Commitment

JEL Classification: E62, I22

Suggested Citation

Gradstein, Mark, An Economic Rationale for Public Education: The Value of Commitment (November 1999). CESifo Working Paper Series No. 209, Available at SSRN: https://ssrn.com/abstract=272596 or http://dx.doi.org/10.2139/ssrn.272596

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