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Education & NPV

darkkermit
Posts: 11,204
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4/14/2011 11:10:11 AM
Posted: 5 years ago
Wasn't sure to put this in economics or education section:

So I here that the main argument for public school is that "everyone will be able to afford it". Another benefit of education is that education "will increase wages for those who graduate and help those escape poverty." So, if these factors are true, then why not have people "invest" in education, in a literal sense. If eduction really does increase wages, then the payoff after graduating should be greater than the cost + interest for the degree (whether a high school or college degree). Therefore, even if someone is in poverty, it shouldn't make a difference, since one can just take out a loan.

Is there a social benefit of education that I'm overlooking that would cause education to be subsidized?

It seems as if the key indicator of economic development is education, yet I fail to see why it would be an advantage to make education public? Although in many countries, one still has to pay for higher education, they are still heavily subsidized.
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darkkermit
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4/14/2011 12:14:21 PM
Posted: 5 years ago
never mind. I suppose the innovation abilities that persons receive from an education create a strong enough effect that the government should subsidize it.
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