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The role of prices in education

By Tom Papworth
April 2nd, 2012 at 11:40 am | 3 Comments | Posted in education

The government’s Free Schools policy is widely regarded as a significant innovation; a radical shake-up of state education. The next logical step – permitting for-profit providers to deliver state-funded education – is still hotly contested and is unlikely to emerge in this parliament.

Yet even if profit-making providers were able to deliver state-funded schooling, this would hardly represent a free market in education. For one thing, almost all discussion of voucher schemes and for-profit provision assumes that prices will be capped.

This misses one of the most crucial benefits of allowing markets to operate.

Read the rest of the article, and leave any comments, at the IEA blog.

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