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The story is actually fairly well balanced if you read it all. There are some real problems with the study referenced in the article, but refuting it is not really necessary.
Regular public schools that fail mainly just get more money. Public charters that fail get shut down. Which type of school do you think is going to be more motivated to innovate and improve?
Kentucky law currently prohibits establishment of the kind of school that is routinely shut down if it fails to educate students.