November 20, 2019 Addendum: The videos originally linked in this column are no longer on YouTube. So I’ve added this Reason TV discussion with Richard Vedder, which addresses the same issues.
Other than my affection for the Georgia Bulldogs, I’m not a big fan of higher education.
Colleges and universities are hotbeds of political correctness, but that’s actually a minor issue.
The big problem is that higher education consumes a huge amount of resources and provides inadequate value.
In these two videos, Richard Vedder documents staggering levels of inefficiency.
And here’s another portion of Rich’s remarks, given at the Pope Center in North Carolina.
A big problem in higher education is the existence of third-party payer, which is also what’s screwing up the healthcare system. More on that issue – as it relates to higher education – later this week.
P.S. Rich also is a co-author of an article for the Cato Policy Report documenting how spending cuts helped restore growth after World War II.
[…] Here’s a video interview with Richard Vedder about high costs and inefficiency in higher education. And I also recommend […]
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[…] matter since politicians seem more concerned about creating more comfortable lives for unproductive professors and bloated school […]
[…] In the case of higher education, there is substantial third-party payer because of money funneled to students in the form of grants and loans, as well as funds channeled directly to colleges and universities. […]
Richard Vedder and Marge Simpson both make an appearance in this post on the “100 reasons NOT to go to grad school” blog:
http://100rsns.blogspot.com/2011/01/43-attitudes-about-graduate-school-are.html
[…] EDUCATION BUBBLE UPDATE: Richard Vedder on the Failings of Higher Education. “The big problem is that higher education consumes a huge amount of resources and provides […]
I also found this blog insightful.
http://www.textbookripoff.wordpress.com