Peter Wood, a professor at Boston University, weighs in on Senator Kerry’s proposal to make college more affordable. I’m posting this because of the comments on my post about the “giant sucking sound” coming from universities siphoning people’s money from their wallets. He confirms my thesis that higher education is expensive because of government intervention:
Why is college so expensive? Why does federal aid never really succeed in making college more affordable? These shouldn’t be deep mysteries. For over a decade I participated in university meetings aimed at determining my university’s annual tuition increases. The only real question was, “How much can we get away with?” And the only real worry was that, if we overreached, we might move to the dreaded top of the list for largest increases. Most years, it fell to me to draft a letter to parents from the Chairman of the Board explaining that the tuition increase reflected this or that combination of new construction projects and programs.
I recall visiting George Mason when Steve Schultz was going there in the early ’90s, when Virginia balanced its budget by modest reductions in spending. The university president decided that if the state was going to reduce its subsidy, he would endanger the safety of his students. He didn’t quite phrase it like that, but he did order the facilities department to start turning off random street lights for several hours a night, as a “cost-cutting” measure. He could have fired a useless administrators and that would have saved as much money, but instead he wanted to make sure young women would walk around in dark areas so they might be more easily assaulted.
Wood includes an ominous possible explanation for high prices:
But maybe we have just decided that high prices for a college education are a good way to organize our society. Those prices are high enough to discourage large families and to provide a strong incentive for both parents to work.
…which means the price of a college education is another manifestation, not of capitalism run amok, but of the Culture of Death.