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Doug R
Boston
Recent Activity
Dear Professors: I certainly hope you understand that you are blogging about a subject that you have a deep conflict of interest on. Your own livelihood is traced directly to the financial fortunes of your institutions. Of course, you would defend the increase in prices and being directly related to the increase in the quality of your talent. Like the health care sector, which is the only other market that defies gravity (or should I say the laws of supply and demand), the higher education sector has been unconstrained by market limiting forces. For health care, the additional costs have been (or will be) absorbed by the US taxpayer, future US Bond holders, future US currency holders, benefits-providing employers, and employees. For higher education, the unpayable debt will be transferred to US taxpayers and college endowments. I don't care so much about the endowments since they have been growing rapidly for years, thanks to grants by rich benefactors, foreign students paying full freight, and a robust stock and bond market. These will collapse along with most mid-level private colleges which will never be able to compete, long term. At a minimum, professors, you need to present your obvious conflict of interest when commenting on matters such as this.
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Jul 8, 2013