A sound college degree is expensive and the cost of managing universities is continuing to put pressure on stretched state budgets. Online education entered the market in the past few decades and is disrupting the traditional system. Despite this feather ruffling it also will bring a few new things that may help both universities and states become more cost effective. The legal design of the institution (for or non-profit) is less important than the actual quality of education provided. To that end, traditional land based universities have come grudgingly to accept the merits of online education in both terms of cost and learning quality. Online education will change the cost structures of universities (Cowen & Tabarrok, 2014): Using the best professor and content creators to teach more students. Save time with less repetition and commuting costs. Flexibility in when and how lectures are viewed. Greater productivity improvements as software substitutes labor. Addi
The blog discusses current affairs and development of national economic and social health through unique idea generation. Consider the blog a type of thought experiment where ideas are generated to be pondered but should never be considered definitive as a final conclusion. It is just a pathway to understanding and one may equally reject as accept ideas as theoretical dribble. New perspectives, new opportunities, for a new generation. “The price of freedom is eternal vigilance.”—Thomas Jefferson