The Becker-Posner blog is unique because of the access it provides to two top-notch economists. Two days ago Becker wrote about college tuitions and endowments and made this great point:
The increase in tuition has been much faster than the rise in consumer prices over the same time period. However, the benefits from a college education in the form of higher earnings, better health, better educated children, and many other aspects of life have grown much faster than tuition has. The result is that benefits net of all college costs have increased at an unprecedented fast rate during the past 30 years. College-educated persons increasingly have achieved elite status not only in the United States, but in other countries as well, including developing countries like China, India, and Mexico.
So it is hard to feel sorry for college students despite the rise in college tuition.
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