The researcher develops the following research questions that need to be answered to affirm the findings: What is education standing for? What the role of market in it? This essay also explores the education policies and reforms in Britain…
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The researcher states that politicians have the responsibility to take into account the welfare of the society and therefore education has become one of the first issues for all political parties’ agenda. Education has improved the market outcomes, particularly for the developing countries. Moreover, it has created positive thinking and attitudes, constructive way of socialization, modernization and overall transformation of the societies. In 1960s Higher Education Committee concluded in their report that education contributes towards economic growth. After around 30 years in 1990s loans were made available for students to help them with their education, and they were not required to repay this loan until they finish their studies and find a job, even then they were required to pay back the loan by installments. Money was invested in students who in return served the country and empowered the market economy. It also improved the social welfare and the economical and cultural circumstances. World Bank stressed on financing education in their report, describing education as a social and private investment. Markets and politicians both have realized the importance of financing education and therefore policies have been designed to support education. Markets, on the other hand, contend against free public education. After 1945 United Kingdom became a welfare state and government took the responsibility of health care, insurance, pensions, and child benefits. But with time it was realized that in order to remain efficient welfare system will have to be restructured and therefore nongovernmental organizations started to play a role too in social services (Zaleski, 2006). It was difficult for the government to bear all the social expenses therefore privatization was inevitable. Market became dominant in the economy by giving people license to pursue personal profit. All this made markets more competitive as barriers to entry were removes and everyone was given a level playing field. Mrs. Thatcher argued about privatization and reformation of the trade union. Thatcher's government injected competition and privatization. In Thatcher’s government education moved from being a pillar of the welfare state to being an instrument for a change and developing global market economy (Tomlinson, 2005). National curriculum was inspired from the free market to respond to the diversity of students. Following that the publishing of the league table promoted and motivated competition between schools, which was success for the market
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