Higher education is consumption good with benefits, not only the consumer but society as a whole in the result of Dr. James Ramsey. Consumption good is a good that is used up, such as, hamburger, energy drink and facial cream. Higher education is consumption benefits because they think if they study more, they can earn more income. So they want to consume with benefit that can provide happiness to them.
I am agree with them, because normally people need to buy things with benefit to provide happiness for themselves, and they cannot be alone without society. Everyone wants to be a part of society, it’s a normal thing. We want a party to meet some new friends; these take a happiness and society to us. From the survey results, if we have a higher education, we will be a high employment and we will earn more income.
Consumption good maybe cheaper than investment good, so we choose something is used up, but can take happiness and society to us.
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