Neoclassical economists make the case for profit seeking firms in the private sector because they supply goods and services efficiently, meeting consumer demand at the least possible price and the highest quality. The government also supplies some goods and services directly, and also has made provisions for non-profit firms to do so, recognizing…

The tension at the heart of pension politics is the incentive to address today's claimants and focus on the here-and-now at the expense of long-term concerns and more dispersed constituencies. In the private sector, rules and regulations seek to tame corner-cutting and short-sighted behavior. In the public sector, the primary safeguard is the…

Access to higher education in Brazil is to a large extent restricted to the higher socio-economic groups. Public universities have limited places and entry is determined by highly competitive exams, thereby excluding those who have not had a high quality secondary education or attended an expensive preparatory course. There has been considerable…

Historically, the roles of the public and private sectors in VET have been characterized by the following broad stages: (1) unstructured and unregulated VET; (2) supply-driven, state dominated VET; and (3) market-driven VET. More recently, the combined forces of globalization, technological change, and liberalization of markets have forced…

This paper reviews Iceland's performance in skills accumulation against the backdrop of a rapidly changing economic environment and discusses directions for further improvements. Since the late 1990s, the government has considerably raised expenditure on education, which is now among the highest in the OECD relative to GDP. Nonetheless, Iceland…