ABSTRACT
Educational reforms are invariably expressed in monetary terms, both in relation to the drivers – the inputs, and to a lesser extent, the benefits to be derived from them – the outputs. This reflects the perception, if not the reality, that the allocation of money is a fundamental consideration in the pursuit of the transformation of schools. We take the view that financial capital is critical, because money is needed to build intellectual capital and financial capital can be enhanced if social capital is strong.
