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Knowledge And Higher Education: Public/Private ‘Goods’ Divide

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  • Serguei Mikhailitchenko

Abstract

While it is generally understood that higher education is a mixed private/public good, researchers rarely look at what within this mix is, or at least can become, private goods or private goods. Knowledge as a product of higher education is generally considered a predominantly public good. However, frequently researchers ignore rivalry and excludability in obtaining knowledge and often confuse positive externalities in education with the characteristics of a public good. Disaggregating knowledge into stocks and flows of knowledge and, further disaggregating flows into processes of acquiring knowledge and the process of expanding the knowledge base might help in solving the private/public ‘good’ divide puzzle. This paper also looks at the economic properties of the operational functions of a higher education institution and discusses their potential of becoming predominantly public or even global goods. The study considers implications of the public/private nature of knowledge and education for higher education reform.

Suggested Citation

  • Serguei Mikhailitchenko, 2022. "Knowledge And Higher Education: Public/Private ‘Goods’ Divide," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 16(1), pages 8-15.
    • Handle: RePEc:isp:journl:v:16:y:2022:i:1:p:8-15
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    References listed on IDEAS

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    1. Camelia STEJAR, 2011. "Higher Education: Public Good Or Public Service? Analysis From The Perspective Of Internationalization Of Education," Management & Marketing, Economic Publishing House, vol. 6(1), Spring.
    2. McMahon, Walter W., 2002. "Education and Development: Measuring the Social Benefits," OUP Catalogue, Oxford University Press, number 9780199250721.
    3. Serguei MIKHAILITCHENKO, 2017. "Economic structure of educational process and its implications for the higher education reform," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(610), S), pages 69-82, Spring.
    4. Serguei MIKHAILITCHENKO, 2017. "Economic structure of educational process and its implications for the higher education reform," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(610), S), pages 69-82, Spring.
    5. Tonya Boone & Ram Ganeshan & Robert L. Hicks, 2008. "Learning and Knowledge Depreciation in Professional Services," Management Science, INFORMS, vol. 54(7), pages 1231-1236, July.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    public goods; externalities; market failure; higher education reform;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

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