College costs outpace medical inflation

The cost of college has outpaced inflation for 30 years, even rising faster than medical costs, according to Freakonomics.

Cato’s Neal McCluskey explains why tuition keeps going up.

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Comments

  1. Your last link yields a “page not found” message.

  2. There’s this article – http://www.cato.org/pub_display.php?pub_id=13754 – titled “D.C. Drove Up Your Student Debt”, by Neil McCluskey at the Cato Institute web site.

  3. William S says:

    Very interesting chart, albeit not surprising at all. The university/college system in the United States has become nothing more than a fraudulant indoctrination and enslavement device exploited by political and social thugs throughout all levels. It is very easy for to exploit people financially via the education system since a baseline has been established that guarantees people have no future without a higher education. In the edn, this is but one more example of how corrupt the United STates has become.

    In summary, your charts are not so much representative of inflation as they are of corruption. The fact is normal supply and demand dynamics have not been at play due to massive federal, state, and private collusion, coruption, etc. The United States has become a corrupt kleptocracy, and the charts you have produced are a perfect reflection of that.

    • Nope, supply and demand dynamics are the driving force here. Parents for the most part are committed to the idea of providing a better life for their children than they had, and that includes higher education for those that did not achieve it themselves. A long period of peace and economic prosperity after Vietnam created a class of teens and twenty somethings that had little to do but go to college so they could compete for the limited number of jobs that required a college degree.

      That demand resulted a the boom in college enrollment and the shift towards college being a standard phase-of-life.

  4. Citing the Cato Institute for anything is tantamount to admitting you have no argument.

    • Roger Sweeny says:

      Saying that is to open yourself to the assertion, “Citing Mike in Texas for anything is tantamount to admitting you have no argument.” I suspect that statement is unfair bigotry.

      All people, all organizations have agendas and biases. It is useful to know them. But all arguments must stand–or fall–on their own. If you think McCluskey is wrong, tell us what you think is wrong and why.

  5. Some supply and demand, many students who graduated from college in the last 3-4 years are saddled with a mound of debt (30K plus) and limited or no job opportunity in their field of study. Even worse, many college graduates are actually doing jobs which require no college education what so ever.

    Parents and their pre-teen kids should google what Dr. Marty Nemko has to say about college being a rip-off.

    His statement about the bachelor’s degree being the most overrated product imaginable is quite correct. There is a nice 10 minute youtube video of this

    http://www.youtube.com/watch?v=V122ICNS8_0

    Makes for VERY INTERESTING viewing, IMO…