Re: The elephant in the room

[Thomas Krichel <krichel@openlib.org>]

   Joseph Esposito writes

> The mouse in the room that frightens the elephant is the
> possibility that the academy is, like housing, wrestling with
> overleverage.

Spot on Joe! Costs of education have been raising way above the 
rate of inflation for many years, but the benefits of education 
probably have fallen, with more people reaching the same nominal 
level of education. After the housing bubble comes the education 
bubble.

> And then I think of the buildings, staff, libraries, and so forth
> that that debt helped to pay for.

The library appears one of the easiest places to save costs from.

> Publishers benefited over the years from the cheap money policy.
> If they suffer now, it is not because the market is failing, as
> Fred Friend contends, but because the market is returning.

I fully agree.


Cheers,

Thomas Krichel