Paul Baskin's May 5 (2008) Chronicle article, "As Bush Prepares to Sign Bailout Bill, No Agreement on Whether 'Crisis' Has Ended," reminds me of how ignoranat I am of basic economics. Even though I'm a quantitative guy -- retired math professor -- with a timely and deep interest in student financial aid, I find it difficult to penetrate Baskin's report on the complexity of opposing positions taken by the financial gurus within the student-loan economy. I suspect that I'm not alone in my frustration with my thin knowledge of global economics, the complexity of various "bubbles," and, yes, even the American student loan economy. Perhaps the time is right for American higher education to consider the role and effectiveness of "econ 101" in our collective understanding of the economic issues that we face daily -- such as the current issue about temporary relief from the federal tax on gasoline, a good or bad idea?
Books
- William H. Graves: El Gran Reto de la Educación: Equidad | Logro Académico | Rendición de Cuentas
This 2013 publication is a compilation of my major papers from 2005-2012 translated into the Spanish Language. I'm indebted to my colleague, Joaquin Huerta, for his effort and kindness in conceiving and completing this project on behalf of our clients and colleagues in the Spanish-speaking world. Larry Downes and Chunka Mui: Unleashing the Killer App
Economics Nobel Laureate Ronald Coase observed in the 1930s that that organizations were growing in size and, thus, becoming more bureaucratic, all because there was too much friction in externally acquiring the services and products necessary to the provision of an organization's core products and/or services. Downes and Mui make a persuasive case that the Internet changes that internally focused paradigm by removing the friction from external sourcing, thus enabling new "leaner, meaner" operational models in both the for-profit and nonprofit sectors. Downes' and Mui's "killer app" is Thomas Friedman's set of "flattenting" forces. (*****)Steven D. Levitt: Freakonomics: A Rogue Economist Explores the Hidden Side of Everything
Levitt asks interesting questions and uses statistical regression and his impressive habits of mind to answer them. I'd like to know what he might find if he asked why nonprofit higher education has not improved productivity in light of its major investments in information technology. (****)Michael Treacy: The Discipline of Market Leaders: Choose Your Customers, Narrow Your Focus, Dominate Your Market
Read this and then determine your institution's current "value discipline" -- and what it actually should be. Be honest! (*****)Thomas L. Friedman: The World Is Flat: A Brief History of the Twenty-first Century
This is must reading! Ask yourself how you would "flatten" higher education -- and your institution! (*****)
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May 10, 2008
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