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To: GreenHornet
Maybe it's time to drag some of these university Presidents in front of a congressional committee to explain why the cost of a college education is so high.

Economics 101: Supply And Demand
A thing is worth exactly what another pays for it. If a customer is willing to pay a high price, that is what it is worth. "Price gouging" is just a matter of recognizing that something worth one price under normal circumstances may be worth far more under abnormal circumstances; that the customer doesn't "like" the price is irrelevant if he is nonetheless willing to pay it.

So long as would-be students are willing to pay high prices for an education, so long as banks make it easy to go deep in debt for that education (because on the whole the loans DO get paid off), and so long as Congress makes it ever easier for students to foist those costs onto otherwise uninvolved taxpayers, prices WILL RISE.

Demanding the university Presidents explain themselves to Congress is pointless - both are doing everything they can to ensure those prices go up.

20 posted on 02/09/2012 1:09:37 PM PST by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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To: ctdonath2
A thing is worth exactly what another pays for it. If a customer is willing to pay a high price, that is what it is worth. "Price gouging" is just a matter of recognizing that something worth one price under normal circumstances may be worth far more under abnormal circumstances; that the customer doesn't "like" the price is irrelevant if he is nonetheless willing to pay it.

What about the textbook scam that I mentioned? This isn't a matter of someone "willing" to pay for the professor's outrageously overpriced book - they're told they MUST buy the book in order to pass the class.

36 posted on 02/09/2012 1:55:34 PM PST by GreenHornet
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