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So far as school education is concerned, many of the assumptions necessary for market efficiency fail, the main problems being imperfect information, imperfect capital markets, and external effects.

— Nicholas Barr

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More quotes by Nicholas Barr

A society is a cooperative venture for the mutual advantage of its members.

" there is an efficiency case for an institutional welfare state."

In a world of certainty, the welfare state has only a small role.

It has been argued that relatively poor people will borrow to buy a house, so why not to buy a degree?

It is argued that regulators are frequently captured by those whom they are supposed to regulate.

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Attribution

Quote text and notes from Wikiquote: Nicholas Barr (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.