Evidence suggests this is not the first or last time parents, students and state education boards will be swindled by privatized education. This summer, a renowned Philadelphia charter school mogul was indicted on multiple counts of wire fraud, obstruction of justice, and witness tampering. And between 2005 and 2011, the US Department of Education opened 53 investigations into charter school fraud, resulting in 21 indictments and 17 convictions in states including California, Texas, Ohio and Pennsylvania.
As education historian Diane Ravitch writes:
The free market works very well in producing goods and services, but it works through competition. In competition, the weakest fall behind. The market does not produce equity. In the free market, there are a few winners and a lot of losers. Some corporate reformers today advocate that schools should be run like a stock portfolio: Keep the winners and sell the losers.