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"Why is it likely that in a system of private education (i.e., a system in which individuals pay for their own education) there will be underinvestment in education? *Remember, education, likes yard work, provides additional social benefit to the society."

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The system of private education is scrutinized.

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A system in which individuals are required to pay for their own education will attract little attention from government and quasi-government agencies. This is because the government considers its first duty to look after the ...

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