by Tyler Cowen
on September 5, 2009 at 3:11 pm
When times get tough, the tough get sponsors.
For $6,000, the City College of San Francisco is offering sponsors a chance to restore one of the hundreds of classes being canceled because of budget cuts.
The pointer is from Craig Newmark.
This is a lot different than having private donors fund the Milton Friedman institute because…ummm…I’ll get back to you.
One wonders whether any of these classes could be held by just charging more per student.
Colleges should charge per class based on expected cost of the class.
In the longer term it might be better. Businesses would have to pay more for graduates. Graduates in highly recruited fields would would be willing to take out larger loans due to the greater payback. Class cost would be aligned to productivity. Businesses might help underwrite loans for specific fields. This already happens, it might happen to a greater degree. Certain classes would cost more, but if they benefit society more there could be an increase in the mechanisms to fund them. I’m not sure subsidizing Shakespeare at the expense of packaging science is a big benefit to society.
Maybe the 216 Washington DC kids whose school vouchers were rescinded this summer should try this approach to pay for their schooling this year.
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