College Tuition Rise Inevitable
Colleges are full of it: Behind the three-decade scheme to raise tuition, bankrupt generations, and hypnotize the media – Salon.com
But there should be no illusions. More information by itself is not going to stop the tuition spiral, not after 33 years. In fact, we can predict fairly easily how this thing will backfire once the government discovers and announces the precise “return on investment” for each institution of higher learning: Like any rational, profit-maximizing entity those institutions will simply continue hiking tuitions in order to capture a larger chunk of that return for themselves.
As the reforms fail and the journalism fails maybe we will figure out that all along there has been a single bad ideological idea behind all of this failure: The notion that the market will solve the problem if we only adjust the controls a little. And as the newspapers of 2020 tell us about an angry new generation of students shouldering an unimaginable debt burden, maybe it will dawn on Barack Obama, by then retired and relaxing on the beach in Hawaii, that maybe we shouldn’t have thought of education as a market in the first place. Maybe college shouldn’t be about individuals getting rich. Maybe there is another purpose.