“One of the variables James and I have included in our model is the educational attainment of teachers. The expected result is that where a high proportion of teachers have at least a master’s degree, teaching should be better and drop-outs fewer. After all, a large percentage of the master’s degrees earned by teachers are from colleges of education, which should know something about good teaching. Yet we find NO statistically signficant relationship between high school dropouts and having teachers with a master’s (as opposed to a bachelor’s) degree”. –Richard Vedder, Center for College Affordability and Productivity