According to AEI author Mark Perry, there is another education-related “bubble” to worry about: the textbook bubble. He writes that this textbook bubble “continues to inflate at rates that make the U.S. housing bubble seem relatively inconsequential by comparison.” He continues, “The cost of college textbooks has been rising at almost twice the rate of general CPI inflation for at least the last thirty years.” Given that many students use loan money to purchase books as well as pay for classes, we might think of this as one of the many sources pumping air into the student debt bubble. But what choice do students (or professors, for that matter) have than to surrender to the textbook “cartel,” as Perry characterizes it? This bubble popping, while a bad thing for the textbook bubble-boys committed to the old, cartel-style model, could be a small relief and contribute to slowing the growth rate of the student debt bubble. Read more on Textbook Bubble-Boys…

In this week’s Acton Commentary, I reflect on a decade of Wikipedia, a remarkable experiment in human interaction:

Ten years ago this month, Internet entrepreneur Jimmy Wales hired Larry Sanger to develop an online encyclopedia. You may have never heard of that project, titled “Nupedia,” but you’ve probably heard of the site that emerged from its ashes. Wikipedia is not only one of the most successful initiatives in the history of the Web but also a shining example of the potential of human cooperation.

Read more on Wikipedia: Freedom in Community…