1 It’s not a science. Economists present themselves as champions of a discipline with the rigour of physics. The models you’ll learn about are presented algebraically and will borrow from real sciences, particularly hydraulics. But the material of economics isn’t…
Category: Education
The rise and fall of the theory of human capital
The University of Chicago where the theory of human capital was distilled in 1960 The theory of human capital — which provides the intellectual support for student loans and other initiatives that impose the cost of education on students —…
Value creation versus price in university education
The cost of a university education in the US and the UK has risen sharply in the past four decades despite the rise of costless ways of sharing information on the internet. Why is this happening? Defenders of the status…