There is great interest in understanding the potential of teacher incentives to improve student achievement. In fact, teacher incentives, either individual or collective, may improve student achievement if they succeed in aligning the public or social goals with the goals of the teacher. However, an approach in which reward is based on outputs can…

It is possible that human capital produces positive externalities to the society indirectly, through non-market channels such as health or crime. Another such channel could be the effect of education on the functioning of democratic decision-making. Measures of the functioning of democracy are bound to be controversial, but one such measure--voter…