SCARCITY How has my industry raised prices at this rate without improving the product? At a few elite institutions, including NYU, we’ve leveraged scarcity. More than a business strategy, it’s become a fetish—believing you are a luxury brand instead of a public servant. Ivy Leagues have acceptance rates of 4–10%. A university president bragging about rejecting 90% of applicants is tantamount to a homeless shelter taking pride in turning away 90% of the needy that arrive each night.
