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by tomp 3906 days ago
> and was a big believer in market forces

A non-market force happened. The government started guaranteeing student loans. Although honestly, even without that, I don't think people are good enough in estimating the extra payoff of education they haven't received yet over their 30+ years long career in the future, to properly evaluate the market value of college education; instead, they were just believing the old mantra "college is worth it".

1 comments

Wait - wouldn't that cause more demand and thus more opportunity on the supply side?
Exactly - more demand, and thus a rising price - as has happened in recent years.