Self-Interest, Symbolic Values, and the Financial Equalization of the Public Schools

Using a natural experiment in which some school districts stood to lose dollars due to court-ordered financial equalization and others stood to gain dollars, I test theories of self-interest and symbolic politics as predictors of dependent variables with racial overtones. The data show a substantial self-interest effect. However, even with the presence of a self-interest effect, symbolic values are still important, most notably those associated with race. The self-interest calculation is then investigated. Relevant variables include levels of information, beliefs, and individual predispositions. The effect of these variables on self-interest demonstrates that the assessment of self-interest is not a simple mechanistic process, but contingent upon a variety of affective variables. Finally, I note that self-interest affects the aggregate level of support for the dependent variable within district but has little effect on its relationship with symbolic values.