A lesson for us?

About the horrible horrible fire in India killing nearly 100 kids who were trapped in their school: I'm so sorry such a horrific thing happened. 
  
Something about why this fire came to be caught  my eye .

The tragedy exposed the downside of India's "economic reforms" program, which saw a proliferation of ill-equipped private schools as the government cut spending on education to curtail its budget deficit.

Most private schools are in crowded buildings that often lack basic safety measures such as fire alarms and sprinkler systems. They rarely have playgrounds, athletic fields or open space.

I'm certainly not up on the Indian school system so I could be wrong on this. It sounds as though private schools have flourished in an environment where there isn't quite enough money for them to run properly.  Something about this seems strangely familiar: could this be our future? If so, I'm wondering if there is a lesson in this for us as well.