"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Bubbles, Malinvestment, and Higher Education
"Many commentators are asking whether the next big bubble to burst will be the debt associated with the rising cost of higher education. College costs have strongly outpaced the inflation rate, and the debt students are racking up is crippling. So what is driving this process and what consequences does it have for students? I have some thoughts below, informed by Austrian economics."
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