ABSTRACT
Public education in the USA and other western countries has undergone major reforms in the last 30 years with the introduction of market-based reforms, including high-stakes testing, accountability policies, and school choice through the introduction of vouchers and charter schools. More and more evidence, from increasingly sophisticated datasets and research designs, documents an increase in earnings – and other related adult outcomes – from increases in student achievement (Chetty et al., 2011; Chetty, Friedman, and Rockoff, 2013). In the midst of the shift to market reforms and evolving policy interests, some have mistakenly argued that class size is no longer important.
