One benefit of doing the right thing is that it just works better. We know that innovation and choice are good for parents and kids, but the economic and social impacts can also be a game changer for our state. School choice for Mississippi can help create jobs, lower the crime rate and reduce welfare dependency. School choice works and will help average Mississippians get back to work.
The following is the abstract from a new study released by the Institute for Market Studies at Mississippi State University titled Mississippi’s Game Changer: The Economic Impacts of Universal School Choice in Mississippi.
Mississippi has a unique opportunity to improve its future economic condition through implementing a fully universal Education Savings Account (ESA) program. We forecast the economic impacts of such a program accrued through decreased criminal activity, increased high school graduation rates, and increased lifetime earnings. Our models assuming a higher rate of program participation find:
● Mississippi would pass West Virginia in 14 years on per capita personal income, and the advantage would grow to around $2,300 per person by the year 2036.
● Mississippi’s streets would have 9,990 fewer felons and 13,824 fewer misdemeanants by 2036, leading to a reduction of over $384 million in costs to society.
● Mississippi would have 7,798 more graduates by 2036, leading to social benefits in excess of $1.6 billion.
Our models assuming moderate rates of program growth find:
● Mississippi would pass West Virginia in less than two decades on per capita personal income and the advantage would grow to around $700 per person by the year 2036.
● Mississippi would have 6,191 fewer felons and 8,566 fewer misdemeanants by 2036, leading to a reduction of over $238 million in costs to society.
● Mississippi would have 5,338 more graduates by 2036, leading to social benefits in excess of $1 billion.
Read the full study HERE