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Education "vouchers" solve the fiscal crisis, and also lead to economic recovery?

Simply open up K-12 education to the market place, with government only playing a role by financing the students with a yearly education check of $8000.

*www.usagovernmentspending.com shows American local governments spending $458.3 billion for K-12 education in 2012.
*(Sir Ken Robinson says this education system is a complete failure)
*The new education cost of $8000 education check to 50 million K-12 students is $400 billion per year
*This saves $58.3 billion
*(a $6000 check would save $158.3 billion)
*The yearly education check allows students(and their parents) to choose how, when, where, and what they learn, and also who teaches them
*The yearly education check of $8000 opens up a $400B/year market to entrepreneurs, teachers, and creatives
*($6000 check opens up a $300B/year market to entrepreneurs, teachers, and creatives)

State fiscal crisis solved, federal fiscal crisis solved, and the new education market leads America's economic recovery.

Thoughts everyone?

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  • Jan 12 2013: Hi Peter,

    Double major in physics and mathematics. Master's in cloud physics.

    I was forced during my naval career to take course in public policy at the War College and my professor was quite honest: All social science research is based upon powerful assumptions that bias the outcome.

    So here goes:

    1. Free market theory, and only that, states that consumers have perfect information and that they always act in their own rational best interest. Peter you must agree with me that is not the case. That idea pervades your entire approach to your idea "borrowed" from Charles Murray, who stipulated a $10K check, and the author of "The Bell Curve" in which he said that 50% of all children are below average.

    2. Your statements are precisely the same as the for profit proponents of education. How well has that formula worked? Look not further than public utilities, or defense contractors, or our wireless providers. I am certain you know the regulated monopoly model and the great disservice that does to consumers.

    3. How about the benefit cards given to welfare recipients which they use for cash at strip joints. That might be their most rational decision, but is it the most rational decision for society? Does that maximize total consumer utility?

    4. Since these checks are paid for by taxpayers without children, how does using that check to send a child to a religious school maximize the utility of the taxpayers that does not support that particular religion.

    5. If we create numerous schools of different persuasions, are you certain that our market system, which by an interpretation is not free, will unify these disparate outlooks on a just economic system and set of laws?

    6. Implicit in everything you say is the immutable belief in the efficient outcome of free markets. Is that really the case? Are our markets really free? How do you explain our near cataclysmic market failure of 2007, 2000, and 1980.
    • Jan 12 2013: Bull,
      6. The Chairman of the Friedman Foundation of Educational Choice actually predicted and explained the entire market failure of 2007-2008. He has a business blog and video up that explains the whole thing.
      http://www.edchoice.org/About-Us/Board-of-Directors/Dr--Patrick-Byrne-%28Chairman%29.aspx
      So +1 for vouchers.

      Criminals figured out how to game the stock settlement system and caused it to vapor lock.
      Here's the read: http://www.deepcapture.com/category/7-the-risk-of-systemic-collapse/
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      Jan 12 2013: Bull,
      Your professor got it right. In the physical sciences, we have finite factors that can be measured,weighed,etc.
      In social sciences,we got individual factors. We weigh them, then they get fat, we measure them, they get taller, we expose two of them to the same stimuli and get two different reactions. It's not social science, it's social beats the hell out of me, I don't have a clue. Now before all those social scientists out there order a hit on me, I will concede that there are valid trends and expectations how society may react to broad generalities and that can be a good thing.

      PS I didn't realize academic background was so important... OK... over 70 years in the university of life, school of hard knocks, advanced degrees in stupid decisions and failed attemps
    • Jan 14 2013: 1. I've never read Charles Murray or the Bell Curve. So your assumption that my idea was based on this is simply false. So all your questions are being asked on a false assumption. And what you are missing from your analysis is the comparison to the current education system: are the results of centrally planned education (now) better than the results of free market education?

      2. Yes, public education is a regulated monopoly model and does do a great disservice to consumers. I see you agree with me here.

      3. Many food stamps go to habits of boozing. That's what happens when people are given liberty, they maximize value for themselves. You sound like a Rousseaun lost in interpretation of Mill because you simply don't understand individual liberty, or don't want to give certain undesirables liberty. Commissar Halsey.

      4. Same as three. What is it about individual liberty and freedom that you don't get? Your questions fall under aristocratic and elitist beliefs that government knows what is best for people. Read Jefferson to understand what he meant about a wall dividing church and state. And do you have the same religious problem when people buy Kosher or Halal food while on food stamps?

      5. "If we create"... The people are choosing, and the market will respond to demand. Parents and students will spend the education money as they see fit.

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