Thursday, June 28, 2007
Education - Nationalise or privatise?
My simple rule of thumb is: that for the longer the term of the investment (before being profitable), the further it should be towards nationalisation on the continuum. Pre-school children are basically a very long term investment before what they have learnt makes an impact on society. University students, however, in a few short years, can go from being smart to being an asset to an employer, society or whatever. Therefore, the efficiency of competitive private finance is critical for universities, but almost meaningless for kindergarten. This is why I think "The Economist" is correct when it states that governments should deregulate and privatise higher education.