Earlier quoted context omitted.
In education, "supply" itself is not the issue; there are more than enough spots at state, etc. universities. Its supply of prestigious universities, which is controlled by a cartel. Similar to diamonds, which are neither precious nor rare, yet prices are outrageous because they are controlled by a cartel. If/when I become President of the United States, I will hold back all education dollars on cartel-controlled edu…
This is funny and true. The competition and prices all originate from elite institutions. I wonder if it legal to completely clone a curriculum? Like could you clone an MIT EECS education? Down to the coursework? Or alternatively - force elite schools to license and manage franchisees? I'd vote for you.
> is it legal to completely clone a curriculum?
Gray area. I'm no lawyer but AFAIK professor's syllabus/tests/etc. (being written documents) are subject to automatic copyright, I imagine the university is the holder of the copyright given that the prof is an employee. That being said, how many profs clone their syllabus/coursework directly from textbooks? The content of most online universities (Khan Academy, Coursera, etc.) is already superior to Ivy League based on first-hand experience of both.
The bigger problem IMHO is that very little of the overall $$$ and energy at Ivy League is actually spent on course content. For many profs, esp. in STEM, teaching undergrad courses is a "chore" / distraction from their research work. I think there is opportunity to make a "lean-and-mean" physical university (perhaps online hybrid) with minimal admin overhead, which a degree could be on-par with MIT in terms of prestige. Is anyone doing this?