2 ms·
>>>>>>You are right that private schools don't always have an incentive to provide good education. The schools have that incentive if and only if the parents ca
by IG_Semmelweiss 5y ago
>>>>>>You are right that private schools don't always have an incentive to provide good education. The schools have that incentive if and only if the parents care about the child's education and have the ability to choose schools. In many cases they don't care, and the children are the innocent victims in that case.
You are missing out on a key feature of the free market.
I know someone that is very well off but is very specific when buying grocieries. This person will resort to going to a supermarket 10min farther away.
Supermarket chains know this and offer prices for such people. Now, this person may reflect 5% of the population. However, note the positive externality:
Thanks to this person, we dont have to worry about prices, yet we benefit from the penny pincher's efforts.
This is why a free market works in education. Parents may not care, but schools will cater to all parents including those that do and everyone benefits.
Of course, for this to work, there cannot be public (or private) monopolies