The latest topic of The City podcast is the higher education bubble, featuring Cate MacDonald, Dr. John Mark Reynolds, and Dr. Holly Ordway. Reynolds makes the point that bubbles can arise when things are overvalued, but that it is important to determine whether that thing is relatively overvalued or absolutely overvalued. That is, to speak of a higher education bubble is to recognize that higher education is relatively more expensive than it is worth, but that it isn’t therefore worth nothing. The challenges facing higher education are various and multi-faceted, and one of the key issues is the necessity of determining how college education ought to be valued.
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