Low Cost Private School

Great video about a libertarian business man, Bob Luddy, who also runs a private school chain, Thales Academy (thanks to Marginal Revolution for the pointer):

 

Notable moments:

0:25:  He introduces an important concept: Voice or Exit. That’s worth a listen.

1:40: “…even charters [schools] are controlled by the state, which constrains innovation.”

3:12: Luddy: “If you look at a modern day public school, you see the tennis courts and the sports fields. To me they look more like a sports complex and, by the way, we also build a school at the back of the lot. All we need are classrooms, some facility for recreation and play, and that’s it.” Absolutely, right.

5:23: Adding to the cons with charter schools, here’s Luddy: “I always view charters as a transitional idea. So, they’re far better than the public school system because they have private management, they can be put out of business, there’s less regulation. However, there’s still regulation and what happens over time, the bureaucrats are going to continue to load more regulation on charters.”

This last concept is important. Charters are, by and large, expected to deliver the one-size-fits-all education of public schools.

That’s like if all restaurants could only serve what the government decided. Restaurants would be reduced to school cafeterias and the variety, innovation and evolution of the restaurant industry to satisfy various customers’ tastes and preferences would disappear. The restaurant owners would be accountable to government, not to customers.

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