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Given that young children are under the control of their parents, if the government has an interest in either the welfare or the productivity of the former, it has no option but to act through the latter. Parents are, in the ordinary sense of the word, the government’s agents. They are agents...
Persistent link: https://www.econbiz.de/10003850519
Given that credit and insurance markets are imperfect, and given also that intra-household transfers, and much of the work a child does, are private information, the second-best policy uses a combination of need and merit based education awards, together with a mix of taxes on parental income,...
Persistent link: https://www.econbiz.de/10003974574
common knowledge. Graduates and graduate jobs are matched by tournament. In laissez faire, only the rich can buy enough …
Persistent link: https://www.econbiz.de/10010485521