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by ElBarto
2836 days ago
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Everything is a market. Problems arise when this is ignored and, worse, when rules are created that go against the market. Education, for example, certainly is a market. Demand is high and all parents try to get the best the can for their children, which creates an imbalance between demand and supply for the best education. Where school places are allocated according to catchment areas, houses prices immediately reflect the value of certain schools. That's the market talking. In the UK, there used to be "grammar schools", which were selective secondary state schools. Most of them have been abolished but not all of them. Getting a place means top free education.
Result? Insane competition and huge industry of private tuitions and training books that lockout the poorer. Again the market is at play and tells us that a grammar school place is extremely valuable. Supply and demand, therefore markets, shape everything. |
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