The Limits of Money

Frederick M. Hess:

The truth is that, between 1960 and 2000, after-inflation education spending more than tripled. Harvard’s Caroline Hoxby has found that real, inflation-adjusted spending grew from $5,900 per pupil in 1982 to more than $9,200 in 2000. In its most recent figures, the Organization for Economic Cooperation and Development (OECD) estimates that current U.S. education spending is over $10,800 per child.
In fact, some may be surprised to learn that the U.S. ranks at the top of the international charts when it comes to education spending. In 2000, the most recent year for which international comparisons are available, the OECD found that the United States spent significantly more per child than any other industrial democracy, including those famous for their generous social programs. In primary education, on a per-pupil basis, the United States spent 66 percent more than Germany, 56 percent more than France, 27 percent more than Japan, 80 percent more than the United Kingdom, 62 percent more than Finland, 62 percent more than Belgium, and 122 percent more than South Korea. At the secondary-school level, the figures are similar, with the U.S. outpacing Germany, Japan, the United Kingdom, Sweden, and South Korea, among others, by more than 40 percent per pupil.
Despite all this spending, the U.S. ranked 15th among the 31 countries that participated in the OECD’s 2000 Program for International Student Assessment reading exam. Ireland, Iceland, and New Zealand were among the nations that outperformed the U.S. while spending far less per pupil. The results in math are equally disquieting: In the international 1999 TIMSS study, which assessed mathematics and science achievement at the eighth-grade level, the U.S. ranked 19th out of 38 countries.

Joanne Jacobs has more.