Institutional Models in Education

The theory of human capital places man at the heart of all production processes and identifies him as the factor determining income growth and a nation’s wealth. Onorato Grassi (2004), in particular, defines human capital as ‘the bringing together of individual resources and acquired knowledge, which are then used to put together theories, projects, solutions and plans of action within a dimension of social interaction and a system of inter-relations.’ These words express the interactive nature of the individual in society, as he or she invests personal resources in the acquisition of knowledge, which is, in turn, used to create and acquire further knowledge, which then furthers the progress of society.

As a result, the economic success of individuals, including the contribution they can make to social progress, depends not only on the type of skills and knowledge they possess at the moment of entering the job market, but also very substantially on the place and mode of acquisition of the skills. While family background, the influence of equals, individual capabilities and schooling are all important factors in the development of skills and human capital, schools play a special role in the sense that they can be directly influenced by public policies.

The book is divided into four main sections which examine the terms of the question, the role of accountability in schools, the measurement perspective and issues of governance.