Externalities of Education
Professor Bernadette West
Due Date: February 12, 2012
Three positive externalities of public education include equal education opportunities, an educated workforce and economic growth. Public education encourages equal opportunities for all children no matter their race, their religion, or their financial situation. This also allows our children to experience diversity. It will teach them to be understanding, tolerant and respectful to others that are of a different background. Instilling this type of moral value in our children at such a young age is just one example of positive externality of public education.
Another positive externality of public education is an educated workforce. In today’s society a high school education is essential. It is not only essential for the individual but society as a whole. We need an educated workforce to attract new employers and produce local entrepreneurs. However, our education cannot stop at the high school level. Nowadays, people with no education or training beyond high school are unlikely to even be considered for jobs that support a middle-class lifestyle. Instead, they will fill the majority of low-wage service jobs. “Education and training beyond high school is a broad and inclusive concept, but whether we are talking about an educational path that leads to a specialist certificate or to a Ph.D., higher education is no longer just the most direct route to a middle-class life; it has become a necessity” (Tierney, 2006).
A third positive externality of public education is economic growth. Education is the best investment we can make that will pay off for everyone in society. “Education can lead to higher wages, increase employment stability and social equality” (Weiss, 2004). Evidence shows that additional schooling, higher quality schooling and increased school spending directly results in increased wages...