Public education and income distribution: a dynamic quantitative evaluation of education-finance reform

Article Abstract:

Transformation of the educational-finance from local control to state control to increase public spending on each student showed that such a scheme can increase welfare by 3.2% of steady-state income. The welfare is incrementally increased as more students enrol in public education and has the added benefit of decreasing public expenditure on education. Centralization of education financing on the state level is an optimization of the human capital investments approach.

Elementary and secondary schools, Public Schools, Models, State government, Local finance

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Michigan's recent school finance reforms: a preliminary report

Article Abstract:

Michigan has traditionally relied on local and property taxes as financial sources for educational expenditures. However, legislature passed a bill in 1993 that disallowed further reliance on the tax system for school finance. Voters then selected a revenue replacement option where the state shifted to a modified foundation system. The new system gave Michigan significant interdistrict variation in school financing and set flexible limits to total school spending.

Social policy, Michigan

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Different approaches for dealing with social security

Article Abstract:

The 1996 report of the Social Security and Medical Trustees reveal the need to develop radical reforms in the social security system of the US, particularly the system's pay-as-you-go financing (PAYG). Various methods in dealing with the system are presented, such as maintenance of social security benefits, creation of individual accounts and the development of Personal Security Accounts that would privatize social security.

Commercial Banks, Investment Banking and Securities Dealing, Bank Individual Retirement Accounts, Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs), Social Security, Analysis, Individual retirement accounts

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