If education produces positive externalities, and the government does not intervene in the market, we would expect what?

Positive externalities refer to the ability of third parties to benefit due to a particular economic transaction.

If education produces positive externalities, and the government minimizes its intervention in the economy, we expect to have a creative monopoly market. According to Peter Theil, a creative monopoly is people's ability to come up with unique solutions to unique problems within the economy. Through his book, Zero to One, Peter Theil argues that everyone within the market must have unique solutions and focus on solving the unsolved problems.

Also, with limited government intervention and education having positive externalities, we would expect the rate of innovation to increase within the economy. This is because people will have more skills to apply, and fewer barriers prevent them from creating new products. With more technical skills and fewer barriers, educated students can develop new techniques for solving different societal problems. This would lead to an increase in economic growth.