An Economic Rationale for Public Education: The Value of Commitment
CESifo Working Paper Series No. 209
19 Pages Posted: 17 Jun 2001
Date Written: November 1999
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: Suggested Citation