Education & Health - Always Government?

[August1991]

In almost all countries, poor or rich, education and health costs take about 20-30% of GDP.

Indeed, in most people's or family's budget, they spend about 15% on education and about 15% on health. (In Canada, look at your various deductions.)

As economists would say, education and health are a normal good. 

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BTW, food is an inferior good. Rich people spend less on food.

 

Edited April 13, 2023 by August1991

[August1991]

We don't want to share our food costs - yet food is an inferior good.

(Food is largely bought and sold in private free markets.)

Yet we share our education and health costs. Why?

-Education and health are existential: we once taught children and our health is now narcissistic.

[August1991]

Housing - like food - is largely produced and sold in a private, free market.

But education and medical services are not.

Why?

Edited May 16, 2023 by August1991