The Externalities of Education Essay Example | Topics and Well Written Essays - 500 words - 4

The Externalities of Education - Essay Example Educational organizations pose a highly educated workforce and it lies in both public institutions. This workforce produces a quality education which develops future workforce with much higher quality for both the organizations. Therefore, quality education helps the people to be equipped to handle multitasking job through being expert in multiple areas. Higher income level in the society is another important positive externality of public institutions. Public education basically helps students from lower income family to get educated by much less educational cost. If a student has eager to learn then he or she can be highly educated from public education and earn good amount of money in future. It helps the student from lower income family to financially support their family members in near future. Higher income means less people need government’s assistance in terms of monetary benefit and subsidies to the lower income level people in the society. Higher income especially in the families of lower income currently result overall development in an economy. Per capita income will grow easily, more job opportunities will come and people will easily get job and the organizations can easily access efficient expertise according their requirements. Socio cultural diversity in the society is the third positive externality of public education. In public educational places, there are people from different races, cultures and backgrounds etc. Kids and youths learn in the public education environment how to coexist with their classmates. This learning from the education environment will carry into the organizations where they have to work with people from different culture, different attitude and behavior also and even from people from different countries. Therefore, a person learn tolerant and understanding of different people around hem even in the education places or may be in the society and the workplaces