Colleges are the 21st-century robber barons

In September, parents send their young adults to college and worry about the ever-escalating cost. One does wonder how an education got to be so expensive.

What is remarkable is the silence from the people of the left side of the political spectrum. We all remember when gasoline prices first hit $1.80 a gallon and the left, along with the media, were outraged at President George Bush and his oil buddies. There were even news reports from gas stations asking people how the high gas price would impact their finances. By the way, did we see similar stories when, during Obama’s administration, gasoline rose to $3.59 a gallon?

 

Since the left controls the university system, we will see no such stories regarding the price gouging going on at these schools. In fact, we will hear cries for more money from the government and student loan forgiveness.

In my view, the universities are the 21st-century robber barons. The 19th-century capitalists were falsely maligned in spite of growing businesses which lead to greater efficiency and lower prices for  all consumer. One should not be castigated as a robber baron if your product is lower in cost, available to more people (especially the poor), and is of higher quality. Compare that to the higher education system in the U.S. today (higher costs and inferior product).

It is high time that university administrators answer to the price gouging they are perpetuating on America’s young adults. Perhaps when the legislature reconvenes in 2016, committee hearings take place to get answers. Until they do something about this, not one more dollar should be given to these institutions.

 

This commentary was originally published in the Woodbury Bulletin.