Tuesday, January 27, 2009

TDR Editorial: Let the Market Decide

New TDR Editorial, by Editor-in-Chief Emily Smith-Esfahani: Let the Market Decide

The free market has been getting a lot of bad press these days. However, as a publication that prides itself on the slogan that any publicity is good publicity, it is only natural for us at The Review to appeal to the free market to solve the College’s economic woes.

3 comments:

Anonymous said...

If the College doesn't want to face the tough decisions involved in becoming efficient, it has another free market option: Eliminate financial aid for one year and sell the 1100 spots in the Class of 2014 to the highest bidders.

07 said...

Hasn't one of TDR's main tenets for years been the value of a core, Western Civ-based curriculum? This editorial seems to be a massive divergence from that stance, if not the complete opposite.

You have also wholly bungled the meaning of a "free market economy" (or at least applied it to an unsuitable context), but that is neither here nor there.

Anonymous said...

A market-based systems rewards those who satisfy their customers.

If you work in the Real World, you can achieve high customer satisfaction by providing superior pricing, quality, or service. Nothing wrong with that.

If you teach college students, you can achieve high "customer satisfaction" by offering courses with a high level of interest, relevance, and faculty involvement. This is presumably what the TDR editorial hopes for.

But in college, there's another, much easier way to make your "customers" happy. Just grade them generously.

In academia, a "free market" of the sort proposed by TDR would greatly strengthen the (already significant) incentives for grade inflation. Not everyone may see this outcome as desirable.