Richard Vedder is Distinguished Professor of Economics Emeritus at Ohio University, a Senior Fellow at the Independent Institute, and a board member of the National Association of Scholars. His next book is Let Colleges Fail, due out early next year.
Accreditation is rapidly changing. Instead of remaining just a mildly annoying and inefficient barrier to innovation and change in higher education, it is evolving into a major impediment. Increasingly outrageous decisions by power hungry accreditation czars are becoming a serious problem. I have recently written about this issue here, but the problem is growing so […]
Read MoreIf I were asked to name the ten organizations most adversely impacting Americans – I would undoubtedly think of a few terrorist groups like al-Qaeda or criminal elements like Russian or Italian Mafia crime families, but also on my list, right below the quasi-corrupt NCAA that exploits young athletes to profit and entertain adults, might […]
Read MoreLet us look at the typical liberal/progressive American who supported President Obama in 2012, who enthusiastically favors raising taxes on the affluent, and who supports most federal programs designed to help economically disadvantaged Americans. My guess is this individual also probably supports vastly expanding federal financial aid to college students, favors increased state appropriations for […]
Read MoreTwo university presidents are in the news. Mitch Daniels, until recently Governor of Indiana, became Purdue’s president amidst much publicity. Arguably the most important leader in American higher education, Mark Yudof, announced he is retiring as the head of the University of California, having previously run the universities of Minnesota and Texas. Just recently, another […]
Read MoreAs American higher education begins its 378th year, we can rejoice that our universities have several strengths, but lament their growing number of weaknesses. The beginning of a new year is a good time to reassess the system. Let us begin with the strengths: A large portion of adult Americans have had higher education experiences, giving the […]
Read MoreMajor university presidents, supported by their governing boards that typically they have wrapped around their fingers, behave often like Marie Antoinette (“Let them eat cake”) or Leona Helmsley (“only little people pay taxes.”) The most recent outrage is the revelation by Jack Stripling of the Chronicle of Higher Education that 25 of the 50 highest […]
Read MoreBy Richard Vedder Although difficult to measure, it is unlikely that higher education has had any productivity advance in the 50 years since I finished college. Economists like Princeton’s William Baumol have argued that rising college costs are inevitable, given inherent limitations on reducing the cost of disseminating knowledge -only so many people can fit […]
Read MoreIn the first couple weeks of any survey course in the principles of economics, students are taught that prices are determined by the interactions of consumers (demand) and producers (supply). Prices for many things, such as oil, or of common stocks, constantly change with the frequent shifts in the willingness of consumers and producers to […]
Read MoreWhy do students go to college? A new poll has a one-word answer: money. That’s one of the findings in a broad Gallup survey of college admissions officers done for Inside Higher Ed. The admissions officers seem to believe that those planning to attend college view it largely as a signaling device that directs the best […]
Read MoreMany politicians, including senators such as Tom Harkin and Dick Durbin, have grown indignant over the allegedly vast amounts of higher education money captured by for-profit institutions via the Pell Grant program. In fact, they consider this something of a scam. The truth, of course, is that throughout its history, including now, the vast majority […]
Read MoreUniversities are in the knowledge business, and the creation and dissemination of it is at the very core of what colleges do. Yet some forms of knowledge about higher education itself are either unknown, or hidden from the public. Why? Release of the information would prove embarrassing and possibly even costly to the school. 1. […]
Read MoreThe new Sallie Mae-Gallup survey of attitudes toward higher education, “How America Pays for College 2012,” shows that Americans are becoming increasingly resistant to rising college prices. Some people who were saying “I want the best college money can buy” a few years ago, are now saying “We aren’t going to pay sky-high tuition when […]
Read MoreWhen asked the question, “Why do colleges keep raising tuition fees?” I give answers ranging from three words (“because they can”), to 85,000 (my book, Going Broke By Degree). Avoiding both extremes, let’s evaluate two rival explanations for the college cost explosion, followed by 12 key expressions that add more detail.
Read MoreInside Higher Education has just released its second annual survey of college presidents on their views about major problems and challenges facing higher education. Over 1,000 presidents responded to the survey, from all types of schools, including over 50 for-profit institutions. To me the most interesting finding is that public and private schools have somewhat […]
Read MoreEvery decade or so, Charles Murray writes a blockbuster book captivating America. First came Losing Ground, focusing attention on our dysfunctional system of public assistance, and, along with Richard Herrnstein, The Bell Curve, a controversial but rigorous examination of the role played by cognitive endowments in American life. I suspect his new book, Coming Apart: […]
Read MoreThe New York Times proclaimed recently that science educators and others are vitally concerned that high dropout rates of students studying math, science, and engineering (the “STEM” disciplines) will imperil our nation’s technological leadership. There is a shortage of people in these fields, it is argued, and efforts to increase numbers are thwarted by dropout rates […]
Read MoreThe passing of Steve Jobs has focused my mind on something I haven’t thought about for a while: American capitalism is so vibrant, so creative, so much a creator of wealth and happiness, while higher education is far less so on all scores. Perhaps this explains why, when we tax capitalists and their suppliers (including […]
Read MoreA huge brouhaha has erupted over the release and interpretation of data about the faculty of the University of Texas, centering on whether a relatively few individuals are doing most of the teaching at the system’s flagship institution, UT-Austin. Two reports drew most of the fire, one by my organization, the Center for College Affordability and Productivity […]
Read MoreNew Pew Research Center data show that a large majority of Americans think U.S. colleges and universities offer only fair or poor value for the financial cost -but college presidents strikingly disagree, with a majority of them thinking college offers at least a good value (though college presidents are overwhelmingly pessimistic about the quality of American higher education compared to the […]
Read MoreThe Chronicle of Higher Education‘s recently released annual survey of the salaries of university presidents provides empirical support for the proposition that higher education today appears to be less about achieving lofty goals like disseminating knowledge, building character, promoting virtue and expanding the frontiers of what humans can do than it is about something far more mundane: keeping […]
Read MoreThe sniping has begun about Richard Arum and Josipa Roksa’s great new book Academically Adrift. Predictably, people are saying the test instruments used (especially the Collegiate Learning Assessment or CLA but also the National Survey of Student Engagement or NSSE) are imperfect, they look at only a small number of relatively anonymous schools, etc. These […]
Read MoreAs I wrote here last week, newly compiled data shows that a great many college graduates have been settling into jobs that do not require higher education. The data, prepared and released by the Center for College Affordability and Productivity (CCAP), show that a majority of the increased number of college grads since 1992—some 60 […]
Read MoreAs an observer of the national political scene for over a half of a century, and as a former employee of the U.S. Senate, I have seen a lot of political sleaze and chicanery. But nothing tops what happened as the Congress, using a relatively arcane procedure designed to correct spending excesses in budget bills, […]
Read MoreMiddlebury College is expected to announce a plan to hold the annual rise of tuition to one percentage point above the inflation rate. This announcement will likely be greeted with praise. But why? Costs may be held down in comparison with other colleges, but the bedrock assumption here is a familiar one: tuition must go […]
Read MoreLess than 60 percent of students at our four-year colleges complete their studies and graduate. That depressing statistic has drawn many critics, and now it has occasioned a book, Crossing the Finish Line, by three well-connected members of the academic establishment–William Bowen, Matthew Chingos, and Michael McPherson (hereafter, BCM). The authors obtained some data on […]
Read MoreOf every 100 kids who enter American high schools, only about 20 obtain a bachelor’s degree within a decade. That is why the proportion of adult Americans with baccalaureate degrees is rising relatively slowly, and why the U.S. has fallen behind a number of other nations in the proportion of young adults with college degrees. […]
Read MoreLike Caesar’s Gaul, President Obama’s plan for higher education is divided into three parts: 1) Every American should have postsecondary educational training, and within a few years we should again lead the world in the proportion of young graduates with bachelor’s degrees; 2) Federal financial assistance to pay for college should become an entitlement like […]
Read MoreThe most important documents governing our behavior and influencing our development as a civilization are mostly short – packing a lot of meaning into a few words. The Ten Commandments is 326 words, the Gettysburg Address is but 268. Even the extraordinarily complex and important law determining our form of federal government, the U.S. Constitution, […]
Read MoreFormer Commissioner of Education Statistics Mark Schneider has caused a bit of a stir with a paper in which he argues that colleges are getting a free pass on a huge problem – a very high drop-out rate. Our colleges are failure factories for literally millions of students, Schneider says, and I agree. To be […]
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