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Government-funded schools bad for economy?

bloppitybleep
Posts: 2
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3/31/2014 6:12:32 PM
Posted: 2 years ago
Can someone give me some good reasons why government-funded schools might be bad for the economy? I need someone to brainstorm with me for a school debate.
blaze8
Posts: 164
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3/31/2014 8:01:51 PM
Posted: 2 years ago
At 3/31/2014 6:12:32 PM, bloppitybleep wrote:
Can someone give me some good reasons why government-funded schools might be bad for the economy? I need someone to brainstorm with me for a school debate.

This is a tough one.

Well, there's one answer to this question, but it'd be really complicated, probably beyond your typical high school debate course or program. In order to argue it effectively, you'll have to understand a couple of core ideas:

1) Treating the market as one large information processor. Forget about supply and demand determining prices. Forget about curves. We are all tiny little individual neurons within the large brain that is the market. Individually, we don't know everything we could want. But collectively, the market brain processes all possible inputs and gives you one output: price for goods. People to read up on for this way of looking at the market: Early Hayek, Milton Friedman, George Stigler, Aaron Director, Ludwig Von Mises, basically anyone from the Mont Pelerin Society and late Chicago School.

2)The marketplace of ideas. The idea is that in academia, ideas are thrown around and tested like in the economic market, and the best ideas are kept while the worst are discarded. This is the marketplace of ideas. The marketplace of ideas is fully capable of actively self-censoring and eliminating false theories so that only the best survive. If the only source of ideas for the marketplace is government funded schooling, the marketplace of ideas is monopolized, no competition can take place, and thus the best ideas might not even be introduced to the marketplace. People to read up on for this: Especially George Stigler, and to some extent his teacher, Frank Knight. But anyone from the Chicago School who ran with the Mont Pelerin Society would advocate this view.

So the argument is as follows:

If the market is one giant information processor, and a marketplace of ideas exists (also as a giant information processor), then having an education system funded solely by the government reduces the competition in the marketplace of ideas, leading to the ideas that are tested by the market itself to be one-sided, and leaving out what could be the best and most effective ideas. Government funded schools leads to no competition in the marketplace of ideas, leads to ineffective economic ideas and policies, leads to a bad economy.

Of course, there are problems with these specific views. But there's an option for you right there. Someone can perhaps validate (or correct) my post, and hopefully give you some other ideas. How much time do you have to research for this?
"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."-Sterling Archer
bloppitybleep
Posts: 2
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3/31/2014 9:05:20 PM
Posted: 2 years ago
Thank you for your help! That's an interesting approach, I'll definitely consider incorporating it. I have until Wednesday, haha.
Khaos_Mage
Posts: 23,214
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3/31/2014 9:12:22 PM
Posted: 2 years ago
At 3/31/2014 6:12:32 PM, bloppitybleep wrote:
Can someone give me some good reasons why government-funded schools might be bad for the economy? I need someone to brainstorm with me for a school debate.

If by government funded, you mean compulsory, you could make the argument that you lose labor capital due to it. (talking teens, not kids)
Multiplier effect from there.
My work here is, finally, done.
blaze8
Posts: 164
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3/31/2014 9:16:11 PM
Posted: 2 years ago
At 3/31/2014 9:12:22 PM, Khaos_Mage wrote:
At 3/31/2014 6:12:32 PM, bloppitybleep wrote:
Can someone give me some good reasons why government-funded schools might be bad for the economy? I need someone to brainstorm with me for a school debate.

If by government funded, you mean compulsory, you could make the argument that you lose labor capital due to it. (talking teens, not kids)
Multiplier effect from there.

A good point. I had forgotten about that side of it (mainly because I assumed we were keeping all else constant....yay ceterus paribus! lol).

Another possible argument:

Government funded education redirects valuable revenue which could theoretically be used to stimulate the economy. This is a Keynesian argument, though. It goes back to the C+I+G+NX equation.
"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."-Sterling Archer