THE BROKEN UNIVERSITY: WHAT IS SEEN AND WHAT IS NOT SEEN IN THE UK HIGHER EDUCATION SECTOR

James Stanfield

Economic Affairs, 2010, vol. 30, issue 3, 53-58

Abstract: Frederic Bastiat and others have previously argued that one of the key differences between a good and a bad economist is whether they are prepared to take into account not just the immediate and visible effects of a policy intervention, but also the hidden costs and unintended consequences which accumulate over time. In the field of higher education, when these additional factors are taken into account it soon becomes clear that the £14.3 billion annual public subsidy is now doing more harm than good in one of the UK's most important service sectors.

Date: 2010
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