public vs private education

Families with talented children would be forced to

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public K-12 education would mean that families self finance the education of their children. Families with talented children would be forced to seek financial assistance from banks and other financial institutions to finance private education. Unfortunately, may never provide such finances because they cannot prove if a child represents a good or bad investment. This makes pure public k-12 education that is free more preferable than the pure K-12 private education (Dee, 2004). Conclusion Apparently, positive externalities justify the reason why the government gets involved in public education system. The belief that public education generates plenty of external benefits through economic growth and civic engagement are the main reasons for the government’s involvement. However, the government has to realize that even when the market fails, its omnipresence has to be felt.
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PUBLIC AND PRIVATE EDUCATION 5 References Hall, J. (2006). Positive Externalities and Government Involvement in Education . Journal of Private Enterprise, vol. 21, (2). P. 162-175. Friedman, M. (1962). Capitalism and Freedom . Chicago: University of Chicago Press.
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PUBLIC AND PRIVATE EDUCATION 6 Dee, T. (2004). Are there Civic Returns to Education ? Journal of Public Economics, vol. 29, p. 1697-1720. Milligan et al., (2004). Does Education Improve Citizenship? Evidence from United States and the United Kingdom . Journal of Public Economics, vol. 88.p. 1667-1695. King, K. (2005). Is K-12 Education a Public good? working Paper
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