Cocktail Party Economics

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The provision of education is often viewed as equitable and efficient. To be equitable, it must be represented as fair and impartial, as well as being efficient in comparison of effectiveness to the total input in a market system. Based on the principles presented in Cocktail Party Economics, the provision of public education can be analyzed as a negative connotation. Chapters 9-12 in Cocktail Party Economics emphasizes on competitive markets, less efficient market outcomes and many others concepts. Public education was put into place to create fairness and provides all children with the equal opportunity to attend school. However, the public education system is quite inequitable. In the majority of cases, children that live in better neighborhoods end up doing better than those in lower income communities do. The schools in higher income areas are maintained more frequently and overall provide the children with better opportunities than schools in lower income areas. This is not fair, even though the government will try to spend money equally it does not always end up being impartial. This unfairness is presented at an elementary and a secondary school level. When it comes to the secondary school level, there are many private institutions that provide easier education than public schools simply because you are…show more content…
Teachers are the only ones really in contact with students. This creates many barriers when funding education because the teachers are the only ones who truly understand the needs of their students, meanwhile school boards simply prepare budgets and take care of all the money. Therefore, the provision of education is quite inequitable. There are many aspects of it that do not make sense economically. When something is equitable it does not necessarily mean that it is efficient, and when something is efficient it does not mean that it is
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