In a world of tremendous inequalities, this paper explores two contrasting normative models for education policy, and the relationship of each to policy, practices and outcomes that can improve lives by reducing injustice and building societies which value capabilities for all. The first model is that of human capital which currently dominates…

This paper examines the impact of education on economic growth in Greece over the period 1960-2000 by applying the model introduced by Mankiw, Romer, and Weil. The findings of the empirical analysis reveal that education had a positive and statistically significant effect on economic growth in Greece over the period 1960-2000. The econometric…

It is of paramount concern for economists to uncover the factors that determine economic growth and social development. In recent years a new field of investigation has come to the fore in which social capital is analysed in order to determine its effect on economic growth. Along these lines the work presented here examines the relationships that…

While many nations express a commitment to improved educational quality, education often slips down on the policy agenda. Because the benefits of educational investments are seen only in the future, it is possible to underestimate the value and the importance of improvements. This report uses recent economic modelling to relate cognitive…

The ACE model, an impact model that offers a number of specific, interrelated equations to provide quantitative results of college operation in the local economy, is discussed. The components affected include local business, governments, and individuals, with both positive and negative economic impacts on each group. A table presents Cypress…

Background/Context: In the field of educational research, conventional wisdom holds that primary-level schooling, specifically literacy acquisition, promotes economic mobility for individuals and economic development for the nation. This belief is rooted in human capital theory, the causal argument claiming that state investment in schooling or…

Focuses on political and bureaucratic factors that retard the reform of U.S. economic development policy. Several models for economic development are examined, as are the policy preferences among them. A typology is presented of different development policies integrating the various political, bureaucratic, and environmental factors. (GLR)