Tell me what you want to do 1Normal 1 No Spac Heading 1 Head

Tell me what you want to do.. 1Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em... Emphasis Intense Styles I do believe that the market system is the best mechanism for the production of our wants and needs, I do agree that the government should have involvement in terms of trading practices but unless the government is producing or purchasing the goods then believe that only in that instance the government should have deeper involvement the market system has proven to work and although it is not perfect and in some cases it has failed. In my opinion the education system is one of the markets that does not produce effectively as there are some things that could be managed more efficiently (funding, teacher salaries, costs, materials). I am not suggesting that the system is broken but I do think it needs work. The government is involved in this market directly and I think that this particular industry should be revised for it to produce more efficiently and give better results. What do you think his opinion? (At least five sentence)

Solution

I do not agree to some of the statements. I accept the fact that allocative efficieny and productive efficieny are ensured only by the market system and this is the reason why the price mechanism is proven to be efficient. However, I do believe that there are market failures more prevalent than ever especially in case of growing importance of public goods like defense and education as well as burgeoning problem of pollution and other externalities.

Even when the government is not involved in direct production of goods, its role as a regulator is critical for the functioning of markets. What we need now is not a market efficient outcome but a socially efficient one. Therefore, I propose a greater role of government. I accede with the arguments provided in the field of education because it generates positive spillovers and the current level of tuition and other charges are too high for all to receive basic and higher education.