Acton Institute Powerblog

Making College More Affordable?

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Higher education is one of those areas—like health care—in which prices are so out of whack because of so many distortions in the market that it’s hard to know just how to go about rectifying the situation.

Richard Vedder, a great economist who has done pathbreaking work on the causes of the Great Depression, offers an incisive analysis of a Democratic proposal to lower student loan interest rates. It serves as an excellent case study in the law of unintended consequences.

By the way, the bill, which was voted on yesterday, passed.

Kevin Schmiesing Kevin Schmiesing, Ph.D., is a research fellow for the research department at the Acton Institute. He is a frequent writer on Catholic social thought and economics, is the author of American Catholic Intellectuals, 1895-1955 (Edwin Mellen Press, 2002) and is most recently the author of Within the Market Strife: American Catholic Economic Thought from Rerum Novarum to Vatican II (Lexington Books, 2004). Dr. Schmiesing holds a Ph.D. in American history from the University of Pennsylvania, and a B.A. in history from Franciscan University ofSteubenville. Author of Within the Market Strife and American Catholic Intellectuals, 1895—1955 (2002), he serves as Book Review Editor for the Journal of Markets & Morality. He is also executive director of CatholicHistory.net.

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