Why Education Has Been More Costly Than It Used to Be

Sally Kohn: It's a nice kind of intuitive thought experiment that the blogger Scott Alexander at Slate Star Codex posed. She asks, would you rather have college education equivalent to one your parents had and then get $7,000 or $8,000 for four years? Kohn: Exactly. And why is this? It's because fundamentally all prices are relative prices. What a price tells you is the opportunity cost of something.