Economists have long advocated for congestion pricing to mitigate classic tragedy of the commons problems such as traffic congestion. Today in the Wall Street Journal, Carl Elliot’s review of Benjaim Ginsberg’s The Fall of the Faculty provides a great new example. Deans everywhere will fear Ginsberg’s book. I really liked the following quote;
“A bizarre cost-saving plan proposed by the chancellor of the Tennessee higher-education system would offer tuition discounts to students who agreed not to come to class or get instruction from professors—or as the chancellor put it, to “work online with no direct support from a faculty member.” This is a funny example of congestion pricing.
Switching Subjects — if you want to see a consistent thinker in action, read Gary Becker’s piece in today’s WSJ. The University of Chicago remains #1!