Education as a public good
The issue of education as a “public good”, has a more or less precise definition for economists. For the people in genera, a public good is that which is supplied by the State, maybe because it “benefits everyone”. Economists speak of a “positive externality”, that is, a benefit that everyone receives, whether or not they bear its cost. For that reason, continues the argument, the market would “fail” in providing it, at least in sufficient quantity, and the the State must do so. There are two issues, then, that are worth discussing: is formal education a “public good”?