Government’s involvement in the formation of human capital, public schooling in particular, has been amply criticized by a number of authors. It is nevertheless true that individuals can enhance their productivity to some degree if they accumulate human capital. But the process of human capital accumulation is costly, as any other investment. In this article we intend to extend the criticism to central planned education by focusing on the role education industry plays in the production structure, an issue virtually untouched in previous research.spontaneous order, human capital, public education, capital misallocation
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