A public good is something that must be provided in the same amount to all consumers if it is provided at all. No-one can be prevented from consuming the good once it’s provided. Non-rival: the amount used does not reduce the amount available for someone else. Non-optional: no-one can reject the good.
Not everyone is able to get a college education. Not everyone can pass college to get a degree. Anyone can choose not to go college. Then how is higher education a public good?
Higher education is public good in the sense by which the actions done by the people who have a higher education affect everyone in some way or another. What a person chooses to do with their college education is up to them and cannot be rejected by society. The human capital theory states that "that HE contributes by adding to the potential productivity of graduate employees." Therefore, because of the possible productivity, society cannot reject, make less of, and/or avoid it.
Works Cited
- Baum, Sandy, and Michael McPherson. "Post Navigation." Innovations Is Education a Public Good or a Private Good Comments. The Chronicle of Higher Education, 18 Jan. 2011. Web. 12 Dec. 2016.
- Rospigliosi, Asher Pericles, Sue Greener, Tom Bourner, and Maura Sheehan. "Human Capital or Signalling, Unpacking the Graduate Premium." Flipping the Script in Higher Education. ProQuest, n.d. Web. 12 Dec. 2016.
Higher education is a public good, in the sense that it is what a person does with the degree once they get it and that it is out there for anyone to apply to. Private institutions, by being a public good increase the cost as a way to deter the non-serious and low income individuals from going to their institution. The non-serious individuals aren’t attracted to most private institutions because the cost would be too much for them and if they drop out the money will be poorly spent. As it goes then low income individuals will be less likely to go to a private institution unless they take out the massive amounts of loans, which most will shy away from especially if they are a renowned institution. However, they are still available to everyone so the individuals mentioned above can certainly still go to private institutions at costs to them. This then leads to signaling and what they do with the degree, becoming a public good.
ReplyDeletePublic education cannot be a public good because not everyone has access to it. Everyone's college education is different depending on which school you go. Some schools offer different majors, a business major will have a different education that an English major. Some schools also have different requirements that their student have to participate in. Even the prices varies based on if you are living on campus, off campus, in state, out of state, meal plans even differ. Some people even receive different amounts of financial aid. There is another way higher education and be a public good. When the college students graduate with a degree from a school and serve their community this could be considered a public good. Since there are more public colleges, the student graduating from these schools will have a bigger impact on their communities than the students of private colleges. Also since everyone gives to public colleges through taxes, they are being repaid equally through the student's contribution to society.
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