You get a heap load of inflation..........
Ferguson graduated from Occidental College in 1978 and the tab for his senior year was $5100; adjusted for normal inflation, that tuition today would be $16,500. But no: it’s now in excess of $40,000 (not including room and board), an example of how higher education occupies a rarefied category in American industries. This isn’t breaking news, but when it’s not simply an abstract head-scratcher, meaning when if affects you, the obscene cost of college is staggering. Ferguson interviewed Richard Vedder, an economics professor at Ohio University who’s “studied college tuition so long, so thoroughly, and so honestly that college administrators can’t stand him.” Vedder’s “short answer” when the author queried about how colleges can get away with this legal larceny, he simply said, “Because they can! I mean, who’s going to stop them? Parents? The government? There’s nothing stopping them—literally nothing.”
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