January 9, 2009
Colleges Must Face Reality and Recognize Opportunity in the Economic Downturn
Because of the worst economic downturn since World War II, many state governments now expect revenues to fall in coming years — resulting in less public spending on higher education. Certain state-revenue reforms could moderate the effects of economic slumps on colleges. But higher-education institutions must also face reality and become more productive and cost-effective.
First, let's put in perspective the growth of public spending on education. In 1925 the average
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