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The Role of Markets and Government in Human-Capital Building and Education: A Research Program in Institutional Economics

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  • Joachim Jickeli

Abstract

This paper asks what role the state should play in education. Institutional economics has not entered this debate. To change this, the paper tries to give an outline for further research. First, it gives reasons why pure market solutions will probably fail. Then three basic questions are analyzed: (1) Should there be compulsory schooling? (2) Should the state finance schools? (3) Should schools be subjected to special regulations? To answer these questions, the educational process is divided into three levels. It is argued that the role of government should decrease with rising level.

Suggested Citation

  • Joachim Jickeli, 2001. "The Role of Markets and Government in Human-Capital Building and Education: A Research Program in Institutional Economics," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 157(1), pages 87-107, March.
    • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200103)157:1_87:tromag_2.0.tx_2-v
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    References listed on IDEAS

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    1. Panu Poutvaara & Vesa Kanniainen, 2000. "Why Invest in Your Neighbor? Social Contract on Educational Investment," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 7(4), pages 547-562, August.
    2. James Heckman, 2011. "Policies to foster human capital," Voprosy obrazovaniya / Educational Studies Moscow, National Research University Higher School of Economics, issue 3, pages 73-137.
    3. Colclough, Christopher, 1996. "Education and the market: Which parts of the neoliberal solution are correct?," World Development, Elsevier, vol. 24(4), pages 589-610, April.
    4. Gradstein, Mark, 2000. "An economic rationale for public education: The value of commitment," Journal of Monetary Economics, Elsevier, vol. 45(2), pages 463-474, April.
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    Cited by:

    1. Elena Del Rey, 2009. "Can State University Fees Increase Welfare? A Mixed Oligopoly Approach," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 165(4), pages 670-683, December.

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    JEL classification:

    • I29 - Health, Education, and Welfare - - Education - - - Other

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