Why so few university slots?
GETTING into college in America has gotten considerably more difficult overtime. Zubin Jelvah writes:
Thanks to the positive effects of higher education on pay, the competitionfor entrance into the top colleges has increased sharply over the past threedecades--particularly in the Northeast and California. But over the same period,the number of slots available at these schools has stayed largely unchanged,leading to a situation where demand far outstrips supply.
He says that this has led students to go to ever greater lengths to developa competitive advantage in applying for university admission—taking advancedplacement courses and test preparatory courses, and investing heavily inextracurricular activities. But that’s a positive, right? Competition is forcingstudents to learn more and be more involved in the community.
To a certain extent, yes, but new research suggests that intense admissionscompetition also brings with it serious costs. Mr Jelvah cites a paper by JohnBound and Brad Hershbein and says:
The researchers argue that instead of better preparing high school studentsfor the rigors of higher ed, increased competition may actually becounterproductive. They find that increased competition is negatively correlatedwith college enrollment and earnings at age 25 for students in a subset ofhighly competitive states.
The authors themselves note:
In conjunction with the psychological and informational costs associatedwith competitive pressure ... these results should raise doubts that theincreased competition for college admission has had a net positive effect onwhat and how students learn.
From an economic standpoint, it also seems probable that stagnant supplycoupled with rising demand should generate a predictable price response. Andsure enough:
That chart is from Niraj Choksi at the Atlantic. Now Claudia Goldin andLawrence Katz have argued convincingly that recent growth in income inequalitycan be attributed to a relative decline in the supply of college graduates and acorresponding increase in the relative supply of lower skilled workers. ButJames Heckman has established that declines in college completion are about adrop in the rate of college enrolment and a corresponding decline in high schoolgraduation rates. Here’s the conclusion to a Vox piece by Mr Heckman and co-author Paul LaFontaine.接下来为大家介绍"分折雅思阅读材料：University Slots"