Horace's Hope, Friedman's Folly explains the forces behind the current efforts to privatize education. It also works to debunk the idea that public education should be based on a capitalistic model of action that places education of our youth into the hands of corporations. It does this by presenting the original 6 principles of public education as espoused by Horace Mann, which is the basis of most state legislation concerning the creation of public schools.

1. Citizens may not obtain both ignorance and freedom.
2. The public should pay for, control, and maintain education.
3. Children of different financial ladders should get the same education.
4. The education that is taught must be nonsectarian (nonreligious).
5. The education taught must use tenets of a free society.
6. This education should be taught by professionally trained teachers.

These principles are contrasted with the economic model of education promoted and theorized by economist Milton Friedman. A model that is re-segregating our children by race and creed rather than preparing them for life as a member of our democratic republic.