AI is driving down the price of knowledge – universities have to rethink what they offer

Insightful. I think what happened with tuition was that universities were actually undercharging until around 1980, when they realized they could charge a lot more and people would still pay it, so they did. In America there's a prevailing mindset that the economy boomers grew up in was normal, and today's economy is stunted. The economy of the 1950s and 60s was actually an anomalous boom, like a bumper crop. Today's economy is what it would have been decades ago if the business world had risked charging higher prices and paying lower wages back then, instead of waiting for an excuse like COVID. Kind of a harsh realization.