Rationalizing School Spending: Efficiency, Externalities, and Equity, and Their Connection to Rising Costs

Eric A. Hanushek, Individual and Social Responsibility: Child Care, Education, Medical Care, and Long-Term Care in America (University of Chicago Press, 1996), chap. 3, https://www.nber.org/books-and-chapters/individual-and-social-responsibility-child-care-education-medical-care-and-long-term-care-america/rationalizing-school-spending-efficiency-externalities-and-equity-and-their-connection-rising-costs.