Inflationary Education - Part 2

A recent comment regarding my assertion that the cost of college education, which affects tens of millions of Americans, as a large contributing factor to overall inflation was criticized as unfair with the blame being placed on Medicaid.

While it is true that there have been some cutbacks in state support recently, the fact remains that SINCE 1958 the rate of tuition increase has been from 1.5-2.0 times general inflation.

It really boils down to two things:

1. colleges and universities can have large increases in tuition year after year because our society places a premium on a college education, and
2. colleges and universities choose to have large increases in tuition year after year to fund non-teaching efforts (and fairly hefty salaries for college presidents).

Nevertheless, colleges and universities are quick to point out the fiscal management shortcomings of business and government.