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Private education and inequality in the knowledge economy
- Source :
- Policy and Society, Social Investment in the Knowledge-Based Economy: New policies and politics, Policy & Society, Vol 39, Iss 2, Pp 171-188 (2020)
- Publication Year :
- 2020
- Publisher :
- GBR, 2020.
-
Abstract
- This article explores the consequences of public and private spending on education at all levels, looking at skills and income inequality. We use data for 22 affluent democracies from 1960 or 1995 (depending on data availability) to 2017. High levels of public education spending consistently lower income inequality, both measured as wage dispersion and as the education premium. In contrast, higher levels of private education spending are associated with both higher wage dispersion and a higher education premium. We show that this effect works in part through differential skills acquisition. Public education spending raises the math scores of 15-years old students at the mean and at the 25th percentile, but private education spending has no effect on skills at these levels. We find the same pattern among skills of adults; public education spending raises skills at the 25th percentile and the mean; private spending has no effect. Finally, we also show that higher levels of adult skills indeed depress the education premium.
- Subjects :
- Labour economics
inequality
Public Administration
Sociology and Political Science
Inequality
media_common.quotation_subject
private education
Ungleichheit
education
competence
wage dispersion
Wissensökonomie
cognitive skills
Economic inequality
ddc:370
cognitive ability
0502 economics and business
Erziehung
050602 political science & public administration
Economics
difference in income
Cognitive skill
qualification
Bildung und Erziehung
health care economics and organizations
media_common
knowledge economy
Knowledge economy
05 social sciences
Wage dispersion
PIAAC
skill premium
Macroanalysis of the Education System, Economics of Education, Educational Policy
0506 political science
lcsh:Political institutions and public administration (General)
Makroebene des Bildungswesens
Political Science and International Relations
lcsh:JF20-2112
Private education
Einkommensunterschied
Bildung
Qualifikation
050203 business & management
kognitive Fähigkeit
Kompetenz
Subjects
Details
- Database :
- OpenAIRE
- Journal :
- Policy and Society, Social Investment in the Knowledge-Based Economy: New policies and politics, Policy & Society, Vol 39, Iss 2, Pp 171-188 (2020)
- Accession number :
- edsair.doi.dedup.....eea6a35c7353e991f26377f8231e8289