Market failure in skills

The concept of market failure has been key to the development of UK vocational education and training (VET) policy at national level over the last two decades. It is the chief reason adduced for greater levels of government intervention within, and public subsidy for, the VET system. Policy makers argue that market failures have led UK employers and individuals to under-invest in skills, to the detriment of our long-term economic prospects. Policy responses to market failure include the expansion of post-compulsory education, attempts to demonstrate that investment in skills leads to higher wa... Show more

Authors: Keep, Ewart

Corporate authors: Sector Skills Development Agency (Great Britain) (SSDA)

Published: Wath-upon-Dearne, England, SSDA, 2006

Resource type: Government report or paper

Physical description: 14 p.

Access item: Request Item from NCVER

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