Harvard Ought to Pay Its Honest Share

Harvard Should Pay Its Fair Share


What can we do in regards to the corruption of American increased training? Milton Friedman had an thought 20 years in the past: Tax the colleges fairly than subsidize them. That mirrored a change of coronary heart. In “Capitalism and Freedom” (1960), he argued that faculty training had sufficient “constructive externalities” to justify subsidies. However after I was researching a e book in 2003, I emailed him (then 91) and requested if he nonetheless believed that.

He replied: “I’ve not modified my view that increased training has some constructive externality, however I’ve develop into far more conscious that it additionally has unfavourable externalities. I’m far more doubtful than I used to be . . . that there’s any justification in any respect for presidency subsidy of upper training. The unfold of PC”—political correctness—“would appear to be a really sturdy unfavourable externality, and positively the Nineteen Sixties scholar demonstrations had been unfavourable externalities. . . . A full evaluation alongside these traces would possibly lead you to conclude that increased training must be taxed to offset its unfavourable externalities.”

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