Robert B. Archibald () (Department of Economics, College of William and Mary) David H. Feldman () (Department of Economics, College of William and Mary)
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Much of the literature on the causes of rising costs in higher education focuses on specific features and pathologies of decision-making within colleges and universities. We argue that this inward-looking focus on the specifics of higher education as an industry is a form of tunnel vision that can lead to poor public policy decisions. In this paper we show that cost disease and capital-skill complementarity are two crucially important causes of rising costs in higher education. These two economy-wide forces are something higher education shares with other skilled-labor-intensive services.
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Paper provided by Department of Economics, College of William and Mary in its series Working Papers with number
53.