MEMO

Memo

Memo

To:

From:

Date:

Subject:

The current evaluation methodology is dominated by physical asset creation and school attendance rather than economic efficiency or social development considerations. It is rooted in human capital theory which does not acknowledge the role of families and communities; neglects the opportunity costs of children's time; and assumes away labor market imperfections. By treating education strictly as a market good, it induces faulty institutional design.

By contrast, a neo-institutionalist paradigm would unbundled the various functions of education according to the kinds of goods produced. It would recognize the role of hierarchy and participation in primary education. It would use collective action theory ...