The Economics of College

A topic that would be intriguing for college students, but specifically for economics majors, is the economics of college.

Thomas Sowell, a conservative economist out of the University of Chicago School of Economics, wrote an impressive article (article link below) responding to the "need" for the government to come to the aid of the less fortunate and pay for their college. His article is a response to a human interest story written by the New York Times.

Sowell uses examples outlining why the government should not touch the market. If you read this article and still want big brother to make college cheaper, then you have missed the point. It is because big brother intervenes that the market is diluted and therefore prices for college go up.

These are basic economic principles that occur whenever Adam Smith's "invisible hand" is tampered with. Conservative thought seeks to keep government in check while bleeding-heart liberals want a bigger budget and more useless things to spend it on.

Imagine the society we could have if infrastructure was given the full attention of the government and not social programs meant to do for families what they already have the means, but no will, to do for themselves.


http://article.nationalreview.com/?q=NzM4MjU1NjE0NjcwOTJiODE3MDcyNTAwNDI0ZTUzNzg=&w=MA==