Kristof needs Hazlitt

03/15/2011 Mises Wire Jim Fedako

Nicholas D. Kristof wants to improve our lot by attracting top talent to public education. And he has the proof that an excellent teacher will result in students earning an additional $500 per year. But his proof only works because he ignores the potential productivity lost when talent is drawn from other fields by his proposed $65,000 starting salary. Kristoff would do well by skimming Economics in One Lesson.

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