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Socially Desirable Merit Goods - Essay Example

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Socially Desirable Merit Goods

As the paper declares the government has the responsibility of ensuring implementation of expended schools initiatives and provision of financial support to schools to facilitate smooth learning environment. The government also has the responsibility of providing public schools with recreational facilities and further gives better education opportunities to all children. UK government must ensure that every child gets quality education with a very good start and further helping schools in delivering education strategy. Mainly the government has to ensure that schools have good infrastructure and provides students with better skills.This study discusses that the government should ensure that education provided to the public is very beneficial, effective and universal to all the learners. The intention of providing education by the government is to equip learners with high level skills that are relevant to the betterment of the economy and instilling skills that are useful in the modern life. Government should ensure enough funding especially in the universities and colleges due to the importance of graduates in the economic growth. According to OECD report studying for a degree greatly benefits individuals because they earn a lot of money compared to non-graduates. The report further suggests that the educated individuals were never affected by the economic crisis as it affected the uneducated. The economic crisis and recession was caused by unsuccessfully educated individuals....
According to OECD report studying for a degree greatly benefits individuals because they earn a lot of money compared to non-graduates. University graduates also benefits the governments from the high taxes earned from higher earnings by the graduates. The report further suggests that the educated individuals were never affected by the economic crisis as it affected the uneducated. The economic crisis and recession was caused by unsuccessfully educated individuals. The government should subsidize higher education since university education is important to the UK’s economic recovery because it leads to receipt of high taxes and reduced level of unemployment. All these show the unending benefits of education thus justifying why it cannot be left on the hands of private sector. Educated people get good employment and earn good money compared to uneducated individuals. Learned individuals also acquire knowledge and skills that help them in rational thinking and decision making process thus reducing risks of economic crisis and recession. University education is considered vital in individual’s innovation capability due to the knowledge acquired (McMahon 2009, 180-200). There are several benefits to governments and society that result from studying for a degree such as increased receipt of taxes and social cohesion. University graduates assist individuals in obtaining lucrative jobs thus reducing the level of unemployment in the country. The employed persons will reduce the level of crime in the society because most people are able to economically sustain themselves. Graduates always acquire skills and knowledge that may help them make wonderful innovations that are crucial ...Show more

Summary

This research study, Socially Desirable Merit Goods, discusses education as one of the merit goods provided in UK. Merit goods are those goods that if left in the hands of free market players then it may be underprovided hence dissatisfying the public. …
Author : rjacobs
Socially Desirable Merit Goods essay example
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