Government programs (such as subsidies and student loans) designed to inflate both the supply and demand for higher education have driven a wedge between universities, students, and employers.

Like any other economic good, the value of a higher education degree is determined on the market, at the intersection of the subjective valuations and appraisements of those constituting the supply and demand of that particular good. The parties interested in these transactions are not just education providers and students, but also—or even primarily—employers looking to hire graduates into their companies. At least, that’s how things should be, with entrepreneurs at the forefront, driving and shaping up the content and quality of the education and training of their future employees.






Taking the government out of higher education and letting universities compete in providing market-relevant, profitable degrees is only one part of the solution. The market for education won’t be entirely healthy until the government is also taken out of primary, secondary, and high school curricula and finances, allowing parents and pupils to become informed consumers of education and good judges of their investments.

Carmen Dorobăț has a PhD in economics from the University of Angers, and is assistant professor in International Business at Coventry University. Contact: email.


Related Articles