To get an idea of how bizarre higher education is, consider that a mere 10 percent cut in the tuition at one school (the University of the South at Sewanee) evoked major articles in the media. And not just higher-education media — it was featured in the New York Times’s “Room for Debate” online column.
For most goods and services that we buy and sell (meat, gasoline, books, etc.), a 10 percent reduction is trivial, and one that occurs frequently. Such price changes reflect routine fluctuations in supply and demand. But for colleges and universities, prices are so high and have gone upward so steadily for so long that a modest decline at one school is big news (and should be).