Herb Stein |
...(F)or cities hanging their hat on eds and meds growth, a ... fundamental problem now looms: these industries are at the end of their growth cycle. Spending on healthcare and college tuition costs has been skyrocketing at rates greater than inflation for years...
You can find the article at http://www.urbanophile.com/2013/07/07/replay-the-end-of-the-road-for-eds-and-meds/
Note that forecasting the timing of when things end is difficult. Moreover, unlike financial bubbles - which tend to end suddenly with large ripple effects - other trends can reverse more gradually with less harm done. And note that the notion that putting courses online will fix the tuition problem is questionable even though that seems to be the remedy de jour. There is an item in Inside Higher Ed today that suggests that the MOOC bubble may be bursting: http://www.insidehighered.com/news/2013/07/09/higher-ed-leaders-urge-slow-down-mooc-train
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