Ulrich Boser: The value of guardrails in education

  The real estate crash of September 2008 provided a powerful lesson about the nature of government oversight. After federal regulators failed to rigorously manage the real estate industry, a pool of bad loans caused a housing bubble that nearly destroyed the world economy.

  While schools are much different than houses, education reformers should take note of the value of government oversight because the core lesson remains the same. Markets function better when government plays a strong role, and education policymakers should help to inform consumer decisions and police bad actors.