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Insight from Hindsight: The New Education Finance of the Next Decade

INTRODUCTION Education Finance and Policy is a gift to ourselves, the best kind of gift, one suitable for sharing with others— policy makers, practitioners, and researchers. After a quarter century as a thriving organization, AEFA now has the opportunity to communicate its broad and deep expertise to its members and to the world. We are school finance analysts, program evaluators, economists, political scientists, sociologists, lawyers, statisticians, historians, and computer junkies—and taken together we form the perfect adviser, with all the requisite skills and knowledge to answer difficult school finance and education policy questions. If we succeed in combining these talents, what will we contribute? Insight comes from hindsight. By reviewing enduring problems in education finance and policy, observing what we did right, and seeing when we were surprised and why, we can identify research issues that we missed, avoid similar mistakes in the future, and move forward toward work that is even more productive and useful in the field of education finance and policy. Since the beginning of our organization, our collective interests have been consistently occupied by the questions of how to provide and finance education in ways that improve both equity of outcomes and efficiency of resource use. While equal opportunity for all children is undoubtedly an overarching value for most of us, few are willing to proceed toward that goal with a disregard for how scarce resources are deployed. Leanna Stiefel