Category: Blogs

The economics of higher education are tricky.  It’s a labour-intensive industry, and generally speaking the cost of producing labour-intensive goods will always increase faster than the price of producing capital intensive goods, because the latter have more scope for increasing productivity. That’s not a problem if you are a public institution in a country with bottomless pockets, or if you are a prestigious private institution with almost unlimited ability to raise prices. If you’re among the other 99 percent of the