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Richard Vedder: The real reason college costs so much

Another school year beckons, which means it’s time for President Obama to go on another college retreat, The Wall Street Journal reports. “He loves college tours,” says Ohio University’s Richard Vedder, who directs the Center for College Affordability and Productivity. “Colleges are an escape from reality. Believe me, I’ve lived in one for half a century. It’s like living in Disneyland. They’re these little isolated enclaves of nonreality.” …

Can online education, which is being pioneered in some science disciplines, substantially reduce costs? Mr. Vedder says it can, but government won’t do the innovating. “First of all, the Department of Education, to use K-12 as an example, has been littered with demonstration projects, innovation projects, proposals for new ways to do things for decades. And what has come out? Are American students learning any more today than a generation ago? Are they doing so at lower cost than a generation ago? No.”

Innovation, he says, is being driven by entrepreneurs like Stanford computer science Prof. Sebastian Thrun, who founded the for-profit company Udacity that offers “massive open online courses” (MOOCs). Mr. Thrun began teaching artificial intelligence, first at Stanford and then at Udacity. Mr. Vedder notes that he quickly got “200,000 people to sign up for it. And it’s a great course and people are learning like crazy.”

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