The objective of this paper is to empirically examine the relationship between changes in per capita manufacturing employment, manufacturing earnings per worker and human capital investment in nearly 3,000 U.S. counties over the period 1980-90. Two key hypotheses are tested: 1. Communities in...

In this paper, a conceptual framework is developed representing the dynamic optimization problem for maximizing educational quality subject to a limited amount of available funds. We then examine how the quality of education offered by a school system and the cost of producing education might be...