Governor Perry takes on the Academic elites:
“Between 1978 and 1997, home prices increased annually at about the same rate as general prices, but then appreciated at a faster pace over the next decade. In the ten-year period starting in 1997, home prices increased by 68 percent, or more than twice the 29 percent increase in overall prices, and that home price appreciation caused an unsustainable housing bubble that burst in 2007 and contributed to the financial crisis of 2008-2009.
During that same 1997-2007 decade that home prices increased by 68 percent and created a housing bubble, college tuition and fees rose even higher — by 83 percent. In fact, college tuition and fees have never increased by less than 73 percent in any ten-year period back to the 1980s. And in the decades ending in 2009 and 2010, college tuition increased by more than 90 percent. The still-inflating increases in the price of higher education are starting to make the housing bubble look pretty tame by comparison.”
In addition to suggesting that tuition be reduced, a panel appointed by Governor Perry suggested that professors were “wasting time and money churning out esoteric, unproductive research.” Shocking. The panel suggested dividing the research and teaching budgets to encourage excellence in both, while also introducing merit pay for exceptional classroom teachers.
Meanwhile, The Wall Street Journal reports that students are flocking to colleges and universities in flat, freezing North Dakota to take advantage of lower tuition rates. Enrollment at public colleges has jumped 38 percent in the last decade, led by a 56 percent increase in out of state students. Colleges around the nation, the Journal advises, must now compete for a new kind of student: “the out-of-state bargain hunter.”
(Hat Tip to tweet from @TotalProfMove