Each state participates in the Workforce Innovation and Opportunity Act (WIOA), which prescribes certain types of activities and organizational structures for states to direct federal investments in workforce development. Participation in WIOA requires a state to create a workforce investment board with duties such as developing, implementing and…

This paper examines the government's role in financing human capital investments. It first examines why private investments in education, training, and other forms of human capital are likely to fall short of socially desirable levels. It then reviews past trends in public support for human resource investments. Finally, it discusses current…