"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 Economics See all quotes by Nicholas Barr →

React to this quote

More by Nicholas Barr

“Markets can be efficient or inefficient; so can governments. thus market failure is a counterpoint to government failure.”

“Money income is a flawed measure of individual welfare.”

“Thus social insurance, in sharp contrast with actuarial insurance, can cover not only risk but also uncertainty.”

“Perfect competition must hold in product and factor markets, and also in capital markets. The assumption has two essential features: economic agents must be price takers; and they must have equal power.”

“It is argued that regulators are frequently captured by those whom they are supposed to regulate.”

“The European Commission uses an explicit relative poverty line of 60 per cent of national average income.”

Resonant Thoughts

"It might also mean greater business and government support for maternity and paternity leave and day care so that the middle class and the poor can get some of the educational benefits that the early …"

— Sean Reardon

Science

#education

"My family was all about education, and me being there was a combination of my parents instilling in my sister and I that this was the ticket to wherever you want to go in life—education. And that’s wh…"

— Courtney B. Vance

Entertainment1960

#family

"There is no one in the world who would be more pleased to see an absolute unity in Ireland than I would, and it could be purchased tomorrow, at what does not seem to me a very big price. If the South …"

— Edward Carson

Politics1854–1935

#education

"In the Eastern religions I found more acceptance of the idea, as Dr. Bradshaw had indicated. There was much talk of the existence of a non-physical body. Again, such a condition of being was the produ…"

— Robert Monroe

Business1915–1995

#life