Although the market in higher education is far from a perfect market, its hardly functioning at all...
A functioning market can respond to demand and allocate resources far more efficiently than any other mechanism, and I feel the results of a failure are less bad than a state failure, although sometimes the state can step in to fix markets.
Higher education is a mess though, the budget is not high enough, the pressure to get more and more into higher education is taking its toll...
Perhaps we should be moving towards a model of more specialist institutions in some cases...
The loss of a physics department doesn't bode well though, I think there is a case for some sort of intervention to ensure a high level of science and technology education...
Although the market in higher education is far from a perfect market, its hardly functioning at all...
ReplyDeleteA functioning market can respond to demand and allocate resources far more efficiently than any other mechanism, and I feel the results of a failure are less bad than a state failure, although sometimes the state can step in to fix markets.
Higher education is a mess though, the budget is not high enough, the pressure to get more and more into higher education is taking its toll...
Perhaps we should be moving towards a model of more specialist institutions in some cases...
The loss of a physics department doesn't bode well though, I think there is a case for some sort of intervention to ensure a high level of science and technology education...