[calafrax]

Very interesting observations and a very complex subject with many factors.

One theory of economics is that it only actually works if very few of the market participants act like rational economic actors.

In the example of higher education, for instance, universities used to be a great value for students. Now they are approaching break-even on average in terms of cost-benefit for students, with some students losing and some winning.

That is a market based outcome and is exactly what a market should do but people don't like it.

In the past maybe professors and administers thought in non-market ways, such as that they should impart knowledge for the good of society, etc, etc, as opposed to rationally optimizing their income.

[taneq]

> That is a market based outcome and is exactly what a market should do but people don't like it.

Maybe... whispers maybe not everything is best determined by the free market?

[Aron]

A break-even cost-benefit is not a market based outcome.