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The 'lower education bubble' by Glenn Reynolds
In recent months, I've written in these pages about a higher education bubble the notion that America is spending more than it can afford on higher education, driven by the kind of cheap credit (and mass infatuation) that fueled the housing bubble.Nothing has happened to make me doubt that, and in fact, we're beginning to see universities (like the University of the South at Sewanee, and several major law schools) actually cutting tuition, or freezing it, in the face of newfound customer price-resistance. But, while the higher education bubble begins to deflate, I think we're also starting to see the deflation of what might be called a lower education bubble that is, the constant flow of more and more money into K-12 education without any significant degree of buyer resistance, in spite of the often low quality of the education it purchases. Posted by: g(r)omgoru 2011-03-06 |
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