Educational institutions in India run from mediocre to abysmal. The demand for good education is incredibly high. Poor parents are willing to spend a large portion of their income to send their child to private “English” medium school. As I found out this weekend, even the richest people are worried about their children’s admission to a good school. When demand is high and supply is low, there is no incentive for producers to improve their product or reduce prices. What can we do to correct this situation? How can we use technology to reduce the gap between supply and demand?
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