In an important contribution to educational policy, Daniele Checchi
offers an economic perspective on the demand and supply of
education. He explores the reasons why, beyond a certain point,
investment in education has not resulted in reductions in social
inequalities. Starting with the seminal work of Gary Becker,
Checchi provides an extensive survey of the literature on human
capital and social capital formation. He draws on individual data
on intergenerational transmission of income and education for the
USA, Germany and Italy, as well as aggregate data on income and
educational inequality for a much wider range of countries. Checchi
explores whether resources spent in education are effective in
raising students' achievement, as well as analysing alternative
ways of financing education. The Economics of Education thus
provides the analytical tools necessary to understand the complex
relationships between current income inequality, access to
education and future inequality.
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