A lot of tweets about business models in education sector today; perhaps a good time to link to this entertaining post about economics of undergrad tuition in the US.https://twitter.com/conradbastable/status/1079490520227950592?s=21 …
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(And a surprising number are cross-subsidized by their affiliated hospitals.)
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(Maybe less surprising if one thinks of the economics of a services business which can employ a FTE at $60k and bill them out at $600 an hour.)
End of conversation
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The killer fact of endowments is that ou can only spend the returns. Even if endowments are enormous you don't get to touch that money, even in a potential bankruptcy scenario.
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For sure this is 100% true! And also why I tried to bucket the essay under "Cost Disease". "Extra extra extra bonus" at the end touches on this exact discontinuity: those other universities still have to compete. Results in upward pressure on tuition from the bottom as well...
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