Here is Part 1 of my series on the application of economic principles to the subject of public education.
Now let’s speak plain economics.
What the administrators of public education desire is a monopoly on education. The widespread use of federal funds on the college level shows us just how easy it is to buy into the “free money” system. And what we know is that once a monopoly is established, it tends to be abused. The product may be changed without affecting sales, or the price raised. It’s a way of beating supply and demand. It is fairly certain that no one will be calling for a shrink in the demand of education. Most people agree that children must be taught. So, with no change in demand, and, for the most part, only one supplier, the consumer is between a rock and a bureaucrat. And with education tied to the political fluctuations of the United States, the product is guaranteed to Continue reading
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