higher education is one of the few industries in which competition actually increases cost. Called “the arms race,” colleges compete by attempting to surpass one another in staffing, plant, programs, and services, a practice that produces excessive and unproductive cost hikes. Imagine if airlines competed in this fashion. They might slash the number of seats on each plane, substitute plush and roomy lounge chairs, introduce three-star cuisine, and perhaps employ a live string quartet on each flight and, of course, jack up prices to pay for it.
