So far as school education is concerned, many of the assumptions necessary for market efficiency fail, the main problems being imperfect information, imperfect capital markets, and external effects. (Nicholas Barr)

So far as school education is concerned, many of the assumptions necessary for market efficiency fail, the main problems being imperfect information, imperfect capital markets, and external effects.

Nicholas Barr

Related topics

education fail far imperfect market necessary school

Related quotes

If stability and efficiency required that there existed markets that extended infinitely far into the future - and these markets clearly did not exist - what assurance do we have of the stability and efficiency of the capitalist system? View quote
Joseph Stiglitz
The product of mental labor - science - always stands far below its value, because the labor-time necessary to reproduce it has no relation at all to the labor-time required for its original production. View quote
Karl Marx
Most people might just as well buy a share of the whole market, which pools all the information, than delude themselves into thinking they know something the market doesn't. View quote
Merton Miller
As far as I was concerned, the Depression was an ill wind that blew some good. If it hadn't occurred, my parents would have given me my college education. As it was, I had to scrabble for it. View quote
Sargent Shriver
The first and continuing argument for the curtailment of working hours and the raising of the minimum age was that education was necessary in a democracy and working children could not attend school. View quote
Grace Abbott