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Economic globalization has been accompanied by implementation of education reforms linked to accountability and public finance schemes that emphasize student choice in schools and student loans in higher education. In the U.S. these reforms are rationalized based on intermediate variables, like the number of math credits completed in high school and net prices. However, the reforms rationalized based on this research are seldom evaluated in relation to outcomes (i.e., measures of student achievement and equal opportunity to attain an education). In Education and the Public Interest the editor re-examines the political rationales for these reforms. John Rawls’s theory of justice is reconstructed to develop a framework for assessing the effects of public policy on these outcomes. This volume undertakes a comparative study of the states in the U.S. to examine how education reforms influence student achievement, high school graduation, and college access; and finance schemes influence college access. Policies implemented by states in the 1990s were associated with improved achievement, as measured by test scores for high school students. These policies also correlate with increased high school drop out rates and the widening gap in college enrolment rates across income groups. This volume considers how privatization and accountability policies can be reconstructed to reduce inequality while continuing to improve student achievement and college enrolment. 'I enjoyed reading the book and benefited from it, and I feel confident others will as well. I am particularly taken by its sweep and by the skill and persuasiveness with which the author ties together the broad trends and themes of privatization, globalization, school reform, preparation, equity, equality and college access.' Prof. James C. Hearn, Vanderbilt University, USA '(What I)...especially like about this book is the framing of the importance of the topic in terms of the globalpolitical and economic changes and the notion of access to quality education as a basic right.' Prof. Laura W. Perna, College of Education, University of Maryland, USA.

Educational equalization --- Educational change --- Finance, Public --- Specie payments --- Education, Higher. --- Philosophy (General). --- Political science. --- Political science --- Higher Education. --- Philosophy, general. --- Political Science. --- Political Philosophy. --- Philosophy. --- Political philosophy --- Administration --- Civil government --- Commonwealth, The --- Government --- Political theory --- Political thought --- Politics --- Science, Political --- Social sciences --- State, The --- College students --- Higher education --- Postsecondary education --- Universities and colleges --- Education --- Higher education. --- Political philosophy. --- Mental philosophy --- Humanities

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The paper studies how high household leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of high-income households, a large increase in debt leverage of the remainder, and an eventual financial and real crisis. The paper presents a theoretical model where higher leverage and crises arise endogenously in response to a growing income share of high-income households. The model matches the profiles of the income distribution, the debt-to-income ratio and crisis risk for the three decades prior to the Great Recession.

Finance, Public --- Specie payments --- Macroeconomics --- Macroeconomics: Consumption --- Saving --- Wealth --- Aggregate Factor Income Distribution --- Financial Markets and the Macroeconomy --- Financial Crises --- Wage Level and Structure --- Wage Differentials --- Personal Income, Wealth, and Their Distributions --- Personal income --- Income inequality --- Consumption --- Income distribution --- Income shocks --- National accounts --- Income --- Economics --- United States

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This paper reports on a pilot study to present the United States fiscal data in a manner consistent with the Government Finance Statistics Manual (GFSM 2001). The study incorporates cash and accrual source data in a consistent and harmonized statistical framework, enhancing the accuracy and transparency of fiscal data. The paper presents a general discussion of the source data and the institutional coverage used in the U.S. pilot study. It describes the main results of the pilot, and suggests further work to improve the fiscal statistics in accordance with the GFSM 2001 framework.

Fiscal policy --- Financial statements --- Finance, Public --- Specie payments --- Accounting --- Money and Monetary Policy --- Public Finance --- Statistics --- Public Administration --- Public Sector Accounting and Audits --- Data Collection and Data Estimation Methodology --- Computer Programs: Other --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Fiscal Policy --- Econometrics & economic statistics --- Financial reporting, financial statements --- Monetary economics --- Macroeconomics --- Public finance accounting --- Government finance statistics --- Currencies --- Fiscal accounting and reporting --- Economic and financial statistics --- Public financial management (PFM) --- Money --- Accrual accounting --- Finance --- United States

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George Bush’s 1988 campaign pledge, "Read my lips: no new taxes," has become a mantra for those who distrust politicians and bureaucrats. The gulf between what political leaders say and do seems to be widening, and in democratic societies around the world, contributing to an atmosphere of cynicism and apathy among the citizenry. Understanding the characteristics and functions of speech in policy processes is a requirement for trying to overcome this problem. However, there has been scant analysis of political discourse; the aim of this book is to help fill this analytical gap, by exploring political speech from a variety of perspectives, including normative, epistemological, and empirical. Incorporating insights from economics, political science, philosophy, and law, and evidence from the United States, Canada, France, Italy, Turkey, and the EU, the book addresses a wide variety of timely issues, including: Fiscal discipline in speeches vs budget balance Revenues forecasted in budget speeches vs realized budget outcomes Electoral pledges vs actual realizations Ideological stance in party publications vs spending and revenues of party governments The political business cycle Other questions explored include: Should policy makers always tell the truth and all the truth? What are the benefits and the costs of transparency? How can we resolve the apparent contradiction between the democratic demand for transparency and the efficiency requirement of secrecy in many policy areas? Under which conditions is secrecy acceptable in a democratic society? To what extent may deception and lies lead to a breach of trust or to power abuse? What are the most efficient institutional mechanisms to prevent such abuse? Collectively, the authors present new insights for understanding political process and government activity, and suggest avenues for further research.

Finance, Public -- United States. --- Political planning -- United States. --- Rhetoric -- Political aspects -- United States. --- United States -- Politics and government. --- Political planning --- Finance, Public --- Rhetoric --- Languages & Literatures --- Political Science --- Law, Politics & Government --- Philology & Linguistics --- Political Science - General --- Political aspects --- United States --- Politics and government. --- Language and languages --- Speaking --- Specie payments --- Government --- History, Political --- Political science. --- Political philosophy. --- Semantics. --- Political Science and International Relations. --- Political Science. --- Political Philosophy. --- Authorship --- Expression --- Literary style --- Political science --- Philosophy. --- Political philosophy --- Formal semantics --- Semasiology --- Semiology (Semantics) --- Comparative linguistics --- Information theory --- Lexicology --- Meaning (Psychology) --- Administration --- Civil government --- Commonwealth, The --- Political theory --- Political thought --- Politics --- Science, Political --- Social sciences --- State, The

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The paper discusses the fiscal impact of the Great Recession of 2007-08 on state and local governments in the United States. It documents the sharp decline in tax revenue and discusses how states responded to close the budget gaps in order to obey the balanced budget provisions. It highligts the procyclical nature of this policy response, provides a brief comparison with subnational policy stances in other advanced economies, and discusses some options for making subnational fiscal policy less procyclical within the framework of current rules.

Budget process --- State governments --- Finance, Public --- Specie payments --- Budgeting --- Public Finance --- Taxation --- Macroeconomics --- Fiscal Policy --- Financial Crises --- General Financial Markets: Government Policy and Regulation --- Taxation, Subsidies, and Revenue: General --- National Budget --- Budget Systems --- National Government Expenditures and Related Policies: General --- Public finance & taxation --- Budgeting & financial management --- Economic & financial crises & disasters --- Revenue administration --- Budget planning and preparation --- Tax collection --- Subnational tax --- Expenditure --- Public financial management (PFM) --- Global financial crisis of 2008-2009 --- Financial crises --- Taxes --- Revenue --- Budget --- Tax administration and procedure --- Expenditures, Public --- Global Financial Crisis, 2008-2009 --- United States