Comment Re: They are objectively wrong (Score 1) 190
/facepalm
Ok I'll actually spell this out:
Without realizing it, you're trying to attribute to the Baumol effect what is better attributed to Bowen's law. In 2006, two economists tried to pin this on the former after literally decades of attribution to the latter (well before the student debt crisis.) But then 2008 happened, and what we saw what happens when a decrease in demand results in a decrease in revenue.
Furthermore, as the first link I gave showed, there's only evidence in support of colleges actually reducing their efficiency. But how can they get away with that? Easy; Bowens law, which itself is enabled by the overabundance of student loans.
This has been examined and reexamined by many economists. Actual economists, not illiterate ones like you. And, if you had actually gone to a university before, you'd know that students can't bid on admissions, rather schools simply cap them. So it's driven by revenue, not demand. As 2008 showed, demand only affects costs when there's insufficient demand.
Have fun.