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PROBLEMS OF PUBLIC HIGHER EDUCATION IN THE USA: CAUSES AND CONSEQUENCES
Author(s) -
Murchison William,
Pejovich Svetozar
Publication year - 2012
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2011.02132.x
Subject(s) - graduation (instrument) , incentive , public education , aptitude , economics , higher education , economic growth , political science , finance , demographic economics , business , psychology , engineering , mechanical engineering , developmental psychology , microeconomics
High costs and low graduation rates characteristic of 21 st ‐century US public higher education stem from the bout of rent‐seeking attributable to the post‐Sputnik explosion in research spending and the consequent crusade to enrol new students, with diminishing concern for academic aptitude. New policies that tighten admission standards, encourage earlier graduation and enhance financial aid for the truly needy would constructively address these problems, as would incentives for faculty members to curtail outside consulting.