Education and Health Expenditures

Gavin Kennedy ()

Chapter 54 in Adam Smith’s Lost Legacy, 2005, pp 224-228 from Palgrave Macmillan

Abstract: Abstract The expense of educating youth should be met either from the general revenue of society or from the beneficiaries (more correctly, their parents and guardians). Smith found himself in a bind here as he believed that services offered in return for a salary, paid by taxation, private endowments, charities or legacies, would deteriorate to the point of indifference in their quality: In every profession, the exertion of the great part of those who exercise it, is always in proportion to the necessity they are under of making that exertion. … Where competition is free, the rivalship of competitors, who are all endeavouring the jostle one another out of employment, obliges every man to endeavour to execute his work with a certain degree of exactness.1

Keywords: Health Expenditure; Common People; Public Sector Union; Natural Liberty; Small Premium (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51119-4_54

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DOI: 10.1057/9780230511194_54

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