This article is intended as a contribution to the debate on the role of human capital in determining value for money in early years education. The article explores how the idea that early years education offers value for money has become folklore amongst policymakers and more widely. However, drawing on both interview data and existing literature…

Since the 1980s, the increasing cost of education has been a global trend, and there is a growing demand for increasing efficiency in different countries. As a result, education economists began focusing on the issue of efficient allocation of educational resources and borrowed production function from economics to study educational production…