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Submitted by JFG on

It is quite true that education is a private good due to the individual benefits that come from its investment (time, supply and transportation costs, and most certainly stress). However, the long term and aggregate benefit of producing an educated population is reflected on a county’s productivity growth, GDP growth, and indeed other vital externalities. The main problem seems to be the structural weaknesses of public education regarding infrastructure, lack of technology, and lack of adequate teachers and their indifference towards students’ progress. Wouldn’t you argue that education is for the most part public and that governments should have a more “private” approach to it? An approach that would tackle the public structural problem while at the same time providing public funding for a private education would be a voucher system. This way poor students can be provided a private level education without incurring the unattainable costs of a private institution. What do you think would be the implications of this voucher system regarding public spending as compared to the current ineffective public school system?