"The two most obvious ways of tackling inequality are through education and by redistributing cash. But in each case we need to weigh up the gain in equality against any loss of efficiency which may result."--BOOK JACKET.

"Layard shows how to do this. He focuses on lifetime incomes as the natural basis for thinking about inequality, and shows how lifetime incomes are affected by education. Viewed in the context of lifetime rather than annual income, education is a more powerful tool when compared with cash redistribution."--BOOK JACKET.