college bubble

Megan McArdle weighs in on college costs.

Colleges are collusive oligopolies. It is not until the market is truly open to free choice that the prices will stabilize or fall. What incentive is there to do this, currently, outside of pride? We need to realize that these institutions of higher learning are not providing education because it's a good thing, but rather, because they make money, provide prestige to their faculty, and in general do all the things that a for-profit corporation does. To pretend otherwise is disingenuous.

http://www.thedailybeast.com/newsweek/2012/09/09/megan-mcardle-on-the-coming-burst-of-the-college-bubble.html