Five sister reports published by the Friedman Foundation over the past two years have ignored the relevant research literature in asserting that private-school voucher programs can reduce the social costs of dropping out while increasing graduation rates. The reports are state-specific, targeting five different states. But each report follows a…

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…