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Education and Capitalism: How Overcoming Our Fear of Markets and Economics Can Improve America’s Schools


reviewed by Jack Buckley — 2004

coverTitle: Education and Capitalism: How Overcoming Our Fear of Markets and Economics Can Improve America’s Schools
Author(s): Herbert J. Walberg and Joseph L. Bast
Publisher: Hoover Institution Press, Stanford
ISBN: 0817939725, Pages: 362, Year: 2003
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In November of 2000, voters in California and Michigan rejected referenda that would have created statewide educational voucher systems by a margin of about 70-30 in both cases, bringing the total of failed voucher ballot initiatives to seven since 1972. The response of libertarians and other conservative voucher advocates has generally been threefold: continue to advocate other, less ambitious, forms of school choice, such as charter schools; repackage vouchers as a more limited policy initiative designed primarily to help the neediest students; and attempt to educate the public about the virtues of a fully market-based approach to schooling (Moe, 2001). This new book, authored by Hoover Institution scholar and UIC professor Herbert Walberg and Joseph Bast, CEO of a Chicago libertarian think-tank, of which Walberg is chairman of the board, is part of this third initiative. “Because they do not understand economics or capitalism,” they write, “many people cling to a romantic notion that the current system of government finance and operation of schooling protects children... (preview truncated at 150 words.)


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Cite This Article as: Teachers College Record Volume 106 Number 8, 2004, p. 1596-1601
http://www.tcrecord.org ID Number: 11274, Date Accessed: 12/11/2017 4:09:26 AM

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About the Author
  • Jack Buckley
    Boston College
    E-mail Author
    JACK BUCKLEY is an assistant professor in the Department of Educational Research, Measurement, and Evaluation, at Boston College's Lynch School of Education. He researches and teaches applied statistics and educational policy. His training is in political science and public policy, and he has researched several aspects of school choice and education privatization.
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