> Although of course short-term, production is a zero sum proposition
I don't buy that.
> What should have government done, if it wanted to allow people get more education, and avoid the market failure?
Before, say, 1980, the US built the best university system in the world without government subsidy. After then, the universities became dependent on government subsidy, and the government began all sorts of regulations on them in exchange for the subsidy.
Before 1980, college was affordable. A student could pay for it with a full time summer job and a part time job after school. I know this because I did it.
I don't buy that.
> What should have government done, if it wanted to allow people get more education, and avoid the market failure?
Before, say, 1980, the US built the best university system in the world without government subsidy. After then, the universities became dependent on government subsidy, and the government began all sorts of regulations on them in exchange for the subsidy.
Before 1980, college was affordable. A student could pay for it with a full time summer job and a part time job after school. I know this because I did it.