Because people not knowing geography could be a disadvantage to employERs as well as employees. A minimal education system could be below the economic optimum.
This is like saying we need the government to mandate apple production, because without apples we might become malnourished which is bad. Why can’t the market solve the problem more efficiently? Where’s the coordination failure?
Because people not knowing geography could be a disadvantage to employERs as well as employees. A minimal education system could be below the economic optimum.
This is like saying we need the government to mandate apple production, because without apples we might become malnourished which is bad. Why can’t the market solve the problem more efficiently? Where’s the coordination failure?
The market can’t solve (high school) education because education is mostly public.