Externalities of Education Essay Example | Topics and Well Written Essays - 500 words - 1

Externalities of Education - Essay Example Public Education and Decreasing Unemployment Levels: Rising levels of public education decrease unemployment levels so public education proves to be a positive externality. In developed countries where higher education is being more public, the level of unemployment further decreases. Moreover, in countries where technical education becomes more public this rate goes further down. When professional and skilled learning becomes public, it also increases the labor mobility rate and labor starts moving towards better occupation from traditional to more professional. Public Education Raises Living Standards: Public education is a positive externality as it raises the living standards of people. With the increase in technical and skillful education at public level, people start getting awareness about modern technology and pave their ways towards better living. Public education offers more chances towards advancement and development especially for common man. Comparatively, it is cheap than private education so more people have opportunity to achieve the benefits. Public education is readily available which also makes common man to reap the full benefits from this system of education. Public Education and the Level of Awareness among People: As already mentioned, public education can be readily available so with the help of this education system more and more people can get awareness about common issues regarding health and fitness, balanced diet, pollution etc. So, again we can easily say that public education is a positive externality because of its social benefits. When we analyze the existence of public K-12 school systems versus Private K-12 Schooling system, we can examine various points pro and against the existence of these two. It is important to understand that both the systems have their own advantages as well as drawbacks. Most of the