But there was a problem when pay awards appeared to "bear no relation to performance" - a situation that "undermines trust in the whole system", he said.
It seems very likely that allowing the principals to choose which teachers to lay off will most likely result in a better teaching staff than a layoff strategy based entirely on a criteria with no relation to performance.
Javier Gil-Bazo and Pablo Ruiz-Verdu studied the relationship between mutual fund performance, management fees, commissions and flow of funds in The Relation between Price and Performance in the Mutual Fund Industry.