ABSTRACT

Much has been said about the limits of investment in education. Many governmental leaders at both the federal and state levels have vigorously argued that more money for education is simply throwing good money after bad. The supporting rationale for this position has emanated largely from several studies that have attempted to relate inputs of dollars to outputs as measured by pupil achievement test scores. The majority of these studies have shown that there is no consistent relationship. These analyses, called production-function studies, have been widely misinterpreted to argue that such a lack of co-linearity is good evidence to support either reductions in public school funding or no further increases.