THIS MONOGRAPH IS A SURVEY OF RECENT LITERATURE ON THE ECONOMIC RETURNS ON INVESTMENT IN EDUCATION. THE FIRST SECTION INTRODUCES THE READER TO THE CONCEPT OF HUMAN CAPITAL AND TO SOME WAYS IT CAN BE MEASURED. IN THE SECOND AND THIRD SECTIONS, DATA ARE PRESENTED ON THE RELATIONSHIP BETWEEN EDUCATION AND INCOME AND THE BENEFITS ACCRUING BOTH TO…

In November 1972, electorates in California, Colorado, Michigan, and Oregon decisively rejected consitutional amendments that (according to their supporters) would have reduced or eliminated reliance on the property tax as a means of financing education. School finance reformers were perplexed by these defeats. This study sets out to explain the…

This publication describes Oregon's current school funding system, and provides some criteria for evaluating alternatives that address issues of equity, balance, and stability. Oregon's school funding system depends primarily on local property taxes (57%) and a state aid program (22%) funded mainly by an income tax. This system permits a great…

The recent marked increase in voter-taxpayer rejection of school budget and school bond issues at polls across the United States -- a phenomenon popularly called the "taxpayers' revolt" -- has given rise to the widespread claim that public school finance is in a state of crisis. This paper develops a simplified model of a political…

This paper describes the development of school finance reform in Oregon from 1968 through legislative enactments in 1973 and proposals for the voters in 1974. The first section describes the 1973 school finance reform proposal, rejected by voters, as it was originally submitted (whereby the State would have assumed 95 percent of the operating…