Higher Education as a Positional Good
In policy circles, we talk a lot about whether education is a public or a private good (it’s both), and what the implications are for pricing. But one thing we don’t talk enough about is the extent to which education is a positional good. And that’s a problem because our decisions on this topic have serious implications for the way we fund higher education. What’s a positional good? It’s a good that derives part of its value from the fact it’s valuable,