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Originally Posted by Solidus  I do not believe (nor mean to imply) that private schools are better across the board than public schools. I do believe (and mean to imply) that greater competition between schools is the best method for creating better education service. |
Given I've shown that "the existing empirical research" does support segregation effects, you're going to have to do better than your chosen quote. For example, does the paper provide any critical analysis that provides empirical rebuke for the sources I've presented? Also is it published or merely an opinion piece? (I'd check myself, but I'm just about to watch the crap sequel to 28 days later)
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What makes the education service industry so different, that subsidies are not effective in rewarding the additional social value added?
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Social benefits are reliant on education achieving its 'human capital' role (i.e. maximisation of skills). However, the education system is effectively cheapened by a secondary role: certification. This role is primarily used to maintain intergenerational divides. It is through direct regulation that human capital can be ensured.
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Why hasn't the "hand of planning" been able to maximize the education system yet?
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Its certainly done better than the invisible hand. Moving back to the failure of the market is not a good idea.