In recent decades, much attention has been focused on student achievement in the United States. Many policy initiatives have been attempted in an effort to bolster achievement, including increasing school revenue, decreasing class size, expanding early childhood programs, and introducing vouchers and charter schools, to name a few, but not all of…

This article contends that a new concept of education finance has emerged in response to substantial alterations in the U.S. education policy environment. The major distinction between modern and old is that the latter was principally concerned with arrangements of inputs in K-12 schooling. The former, modern-era education finance, is concerned…