The (Keynesian) Economics of School Choice
In the halls of Congress and on the presidential campaign trail, a debate is raging over which set of economic proposals to pursue in order to rebuild the national economy. At the same time, K-12 education reformers are engaged in their own frantic search for the right recipe(s) that can unlock the full power of teaching and learning. But rarely do we acknowledge that one individual stands, improbably, at the center of both debates – John Maynard Keynes.
Keynes’ influence on economic thinking is well established: ever since 1936, when he first argued the economy was driven not by prices but by “effective demand,” we’ve been in a continual debate over whether outside agencies (like, say, the government) are required to intervene during times of crisis. By contrast, Keynes’ influence on education thinking remains largely invisible – yet most urban school districts across America are being recast in the image of his core theories, particularly the notion that providing more choice in schooling will empower urban parents to drive demand in a new way and, in so doing, unleash a series of tailwinds that can
