Invisible and Visible Hands in Uganda’s Secondary Education Market
DOI:
https://doi.org/10.53449/ije.v2i1.68Keywords:
invisible hand, visible hand, secondary education market, education industry, market, government failureAbstract
In this article we analysed market and government mechanisms in Uganda’s Secondary Education Market (USEM) using Adam Smith’s invisible hand of economic rationality preposition. We highlighted: the rationale for USEM and the distinction between education industry and market, the market concept in relation to USEM, relationship between visible and invisible hands in USEM, accountability measure in USEM, and examples of market and government failure. We concluded that since all successful markets are subject to effective regulation, the visible hand must superintend its invisible counterpart more effectively. Finally, we recommend the need for the visible hand to strengthen its oversight role, mobilize more resources and improve accountability measures; otherwise, expansion of secondary education will be a misspent investment if the invisible and visible hands are left to fail.
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