Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
Will Labour Government Spending Bankrupt Britain? UK Debt and Deficits - 7th Dec 19
Lib Dem Fake Tory Election Leaflets - Sheffield Hallam General Election 2019 - 7th Dec 19
You Should Be Buying Gold Stocks Now - 6th Dec 19
The End of Apple Has Begun - 6th Dec 19
How Much Crude Oil Do You Unknowingly Eat? - 6th Dec 19
Labour vs Tory Manifesto Voter Bribes Impact on UK General Election Forecast - 6th Dec 19
Gold Price Forecast – Has the Recovery Finished? - 6th Dec 19
Precious Metals Ratio Charts - 6th Dec 19
Climate Emergency vs Labour Tree Felling Councils Reality - Sheffield General Election 2019 - 6th Dec 19
What Fake UK Unemployment Statistics Predict for General Election Result 2019 - 6th Dec 19
What UK CPI, RPI and REAL INFLATION Predict for General Election Result 2019 - 5th Dec 19
Supply Crunch Coming as Silver Miners Scale Back - 5th Dec 19
Gold Will Not Surpass Its 1980 Peak - 5th Dec 19
UK House Prices Most Accurate Predictor of UK General Elections - 2019 - 5th Dec 19
7 Year Cycles Can Be Powerful And Gold Just Started One - 5th Dec 19
Lib Dems Winning Election Leaflets War Against Labour - Sheffield Hallam 2019 - 5th Dec 19
Do you like to venture out? Test yourself and see what we propose for you - 5th Dec 19
Great Ways To Make Money Over Time - 5th Dec 19
Calculating Your Personal Cost If Stock, Bond and House Prices Return To Average - 4th Dec 19
Will Labour Government Plant More Tree's than Council's Like Sheffield Fell? - 4th Dec 19
What the UK Economy GDP Growth Rate Predicts for General Election 2019 - 4th Dec 19
Gold, Silver and Stock Market Big Picture: Seat Belts Tightened - 4th Dec 19
Online Presence: What You Need to Know About What Others Know About You - 4th Dec 19
New Company Tip: How To Turn Prospects into Customers with CRM Tech - 4th Dec 19
About To Relive The 2007 US Housing Market Real Estate Crash Again? - 3rd Dec 19
How Far Will Gold Reach Before the Upcoming Reversal? - 3rd Dec 19
Is The Current Stock Market Rally A True Valuation Rally or Euphoria? - 3rd Dec 19
Why Shale Oil Not Viable at $45WTI Anymore, OPEC Can Dictate Price Again - 3rd Dec 19
Lib Dem Election Dodgy Leaflets - Sheffield Hallam Battle General Election 2019 - 3rd Dec 19
Land Rover Discovery Sport Brake Pads Uneven Wear Dash Warning Message at 2mm Mark - 3rd Dec 19
The Rise and Evolution of Bitcoin - 3rd Dec 19
Virtual games and sport, which has one related to the other - 3rd Dec 19
The Narrative About Gold is Changing Again - 2nd Dec 19
Stock Market Liquidity & Volume Diminish – What Next? - 2nd Dec 19
A Complete Guide To Finding The Best CFD Broker - 2nd Dec 19
See You On The Dark Side Of The Moon - 2nd Dec 19
Will Lib Dems Win Sheffield Hallam From Labour? General Election 2019 - 2nd Dec 19
Stock Market Where Are We?  - 1st Dec 19
Will Labour's Insane Manifesto Spending Plans Bankrupt Britain? - 1st Dec 19
Labour vs Tory Manifesto Debt Fuelled Voter Bribes Impact on UK General Election - 30th Nov 19
Growing Inequality Unrest Threatens Mining Industry - 30th Nov 19
Conspiracy Theories Are Killing This Nation - 30th Nov 19
How to Clip a Budgies / Parakeets Wings, Cut / Trim Bird's Flight Feathers - 30th Nov 19
Hidden Failure of SIFI Banks - 29th Nov 19
Use the “Ferrari Pattern” to Predictably Make 431% with IPOs - 29th Nov 19
Tax-Loss Selling Drives Down Gold and Silver Junior Stock Prices - 29th Nov 19
We Are on the Brink of the Second Great Depression - 29th Nov 19
How to Spot REAL Amazon Black Friday Bargains and Avoid FAKE Sales - 29th Nov 19

Market Oracle FREE Newsletter

UK House prices predicting general election result

Universities Are Terrified that Online competition Will Put them Out of Business

Politics / Education Sep 22, 2013 - 06:00 PM GMT

By: LewRockwell

Politics

Peter G. Klein writes: Universities haven’t changed much since the Middle Ages. There is the campus with its lecture halls, dormitories, libraries, and laboratories surrounded by leafy quadrangles. Well, they’ve added giant sports complexes, gyms and swimming pools, and gourmet restaurants, but the basic layout is the same. And the production process hasn’t changed since around 1200. Professors give lectures, students read books and take notes, there are examinations and grades, along with the occasional tutoring session, and a great deal of hanky panky. The professors wear tweed jackets instead of gowns, and the students wear – well, just about anything, including pajamas – but otherwise the university remains one of society’s most conservative institutions.


This has all been challenged, quite radically, in the last decade, as students, parents, taxpayers, and donors have begun to grasp the potential of the internet for revolutionizing the education industry. Distance-learning has been around for a long time (what used to be called “correspondence courses”), but the internet has made it possible for people to educate themselves, independently or in groups large and small, on an unprecedented scale. Startup companies, sometimes unaccredited, are entering the education space as never before. Alternative providers and platforms such as Khan Academy, TED, and the Mises Academy are offering modular, flexible, and specialized alternatives to the medieval model that continues to dominate the establishment universities. And everyone is talking about MOOCs, “Massively Online Open Courses,” offered by standalone firms or in partnerships with established universities.

The early — and predictable — reaction of the traditional universities was to denounce the entrants as cheap, inferior, fly-by-night operations. “They don’t offer real degrees!” “They don’t provide a high-quality education like we do!” Actually, some of the startups offer extremely high-quality products. Others don’t, but so what? Why should “higher education” correspond exactly to a four-year degree from Yale? Why can’t it be better, or worse? A Hyundai isn’t a Mercedes, but that doesn’t mean everybody has to drive a luxury car. And in many cases a shorter, more specialized – not to mention cheaper – curriculum is vastly superior to the bloated, politically correct, and increasingly irrelevant program offered by many of the prestige institutions.

Lately some traditional universities have been trying a new strategy, namely trying to incorporate the best features of the new platforms into the established models, a sort of Borg-like, assimilation strategy. An article Slate describes this trend, focusing on a “flipped” model in which students watch lectures at home, online, and do problems and exercises in class, with the help of instructors and classmates. I personally like the flipped model a lot and often use these techniques in the classroom. Some concepts are better taught using the lecture format, but why should I perform it live, and why should the students get it from me, if there is somebody else out there on the internet who can do it better? I’d rather spend my time working with the students alone or in small groups, after they’ve mastered the fundamentals.

But therein lies the rub. The expensive, cumbersome, and rigid university structure is not particularly well suited for the flipped model. Most highly paid, tenure-track faculty aren’t trained to be in-class coaches and problem solvers. They may not be good at it – after all, they were trained to give lectures. Often there is little connection between their research and this kind of classroom activity, at least for undergraduate education. The coaching sessions can themselves be organized by lower-cost entrants, like the MOOC providers or community colleges or other local groups. You don’t need a huge university campus with a library, dorms, and football stadium to organize problem-solving sessions, and you don’t need overpaid professors to do it. There are exceptions – like graduate business schools that specialize in case-based instruction from highly-qualified discussion leaders (typically “clinical” professors who are former executives) – but in general, most scholars with PhDs are superfluous in this model.

If we had a free market for education, we would probably have far fewer schools, institutes, and programs, and we’d have a lot more diversity of structure and content. Sure, there would be some elite academies filled with top scholars who do research and train the next generation of top scholars. But we wouldn’t have thousands of universities copying that same basic structure at high cost and with little benefit.

Peter G. Klein is a professor at the University of Missouri and Executive Director, and Carl Menger Fellow, at the Mises Institute.

http://www.lewrockwell.com

    © 2013 Copyright Peter G. Klein- All Rights Reserved
    Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules