Magazine October 5, 2009, Issue

Costly Lessons

(Roman Genn)
How traditional universities rip students off

In a typical year over the past generation, the cost of attending college has risen at about double the rate of inflation. Family incomes have not kept pace. And despite huge increases in federal financial assistance, the proportion of lower-income Americans in the college population has actually declined over the past 30 years.

The other sector that has seen comparable inflation over the past generation is health care, and this is no accident. In both sectors, government intervention largely neuters the ability of markets to allocate resources efficiently, by establishing third parties (neither consumers nor producers) that pay many of the

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A reader argues that drug dealers are criminals — and if drugs were legalized, they would still be criminals.

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