Spending on schools is frequently used as an indicator of the quality of schools. In discussions of how to make schools better and more equitable, the ﬁrst argument one hears is the necessity of increasing our spending levels. Unfortunately, history has not been very supportive of this strategy. Research suggests that adding resources to schools is likely to have a positive eﬀect on student outcomes, but the estimated impact of resources is highly variable and depends on the context and constraints on the spending.
Fixing Schools Through Finance
Stephen L. Bowen and Margaret E. Raymond (ed.)
A Nation at Risk +40
Stanford, CA: Hoover Institution