The Economic Rationale for Investing in Children: A Focus on Child Care. Equity and Fairness


While there is considerable debate over the relative importance of external versus private benefits of schooling, there is much more consensus over the notion of equality of educational opportunity. The lack of material resources should not deprive children of the opportunity to acquire human capital and scale the social and economic ladder. Certainly there is disagreement over the interpretation of equality of opportunity and the extent of redistribution justified by this principle, but the basic tenet that all children deserve access to a quality education underlies the notion of meritocracy and the fairness of the ensuing distribution of wealth.