Education, Education And Education

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Governments play a vital role in providing some of the basic amenities such as health, education and security to its citizens. According to Milton Friedman, the government has a very important and critical role to play in the provision of education and more specifically provision of primary education. Government involvement in the education sector can either be in the form of loans, subsidies or grants to provide an enabling learning environment to the needy students. This paper analyzes the role of subsidies in the support of higher education based on Friedman’s arguments. In addition, the paper will attempt to explain the spillovers effects resulting from the government support of education. Education plays a primary role in reducing the level of illiteracy and knowledge in the society. Due to different financial position of parents and the high cost of education, the question remains whether the government should intervene and subsidize the financial burdens on the parents. In Friedman 's argument, education only benefits the individual student but does not benefit the community through the effects of a positive externality. According to him, education only benefits the individuals rather than the society. Educational benefit to an individual also referred as the positive spillovers effects improve the general welfare an individual. For the society to have proper understanding on some values, it is important for the government to reduce the level of illiteracy among

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