Relative Cost of Education

As a professor I am aware that the cost of a university education has increased significantly, even adjusting for inflation. I am also well aware that this cost increase is not due to proportional
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A Plumber at work. (Photo credit: Wikipedia) As a professor I am aware that the cost of a university education has increased significantly, even adjusting for inflation. I am also well aware that this cost increase is not due to proportional increases in faculty salary. One reason for this is that the salaries of professors, especially those at state school, tend to be compressed. For faculty who have been around a long time, such as myself, the compression can be quite extreme. This is one reason why star faculty move around relentlessly in search of ever larger salaries. Another reason is that universities are relying very heavily on badly paid adjuncts. While the rates vary, a typical adjunct can make about $24,000 over nine months for teaching eight classes. There are generally no benefits at all, so the cost to schools is rather low. Given that such faculty typically have advanced degrees, they are perhaps the worst paid of the best educated. It is true, as I mentioned, that. . .

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News source: Talking Philosophy

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