Economic Thought and Educational Policy-Making: An Historic Perspective
DOI:
https://doi.org/10.11575/jet.v14i3.43877Abstract
Economic thought about education has been different in each of three reasonably distinct periods. Until the 1950's economists demonsttated little concern about the relationship between education and society's economic performance. In the 1960's the neoclassical school became preoccupied with education's investment potential, and its views meshed with those of the Keynesians to form a consensus on greatly increased expenditures . In the I 970's, the judgement was reversed . In all periods the views of economists have had an important influence on educational policy-makers.
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