Chapter

The Bottom Line: Why <i>Does</i> College Cost So Much?

Robert B. Archibald and David H. Feldman

in Why Does College Cost So Much?

Published in print October 2010 | ISBN: 9780199744503
Published online January 2011 | e-ISBN: 9780199866168 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199744503.003.0006
The Bottom Line: Why Does College Cost So Much?

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This chapter summarizes the trio of technology-based arguments offered in the three previous chapters for why college costs have increased so much over the last sixty years. Cost disease, increases in the wages of highly skilled workers, and changes in technology that affect quality have led to increasing costs in higher education and in a set of similar industries. The chapter also explains why the upward march of the inflation-corrected cost of higher education was suspended in the 1970s as the growth of overall labor productivity slowed. The chapter ends with a discussion of the policy implications that flow from the aerial view of the higher education industry.

Keywords: cost disease; productivity growth; highly skilled workers; policy; technology

Chapter.  3757 words.  Illustrated.

Subjects: Financial Markets

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