Why spend less, if education is the most superior good around?
How much better is Harvard than a subsidized in-state school, or four years of that school versus 2 years of cheap community college before transferring in?
Most large public school systems spend more than half their budget on administrators.
Similarly, class sizes at most colleges and universities haven’t changed that much — but administrative staff have exploded.
But now for every person operating the machine there is an army of planners, regulators, lawyers, administrative staff, consultants and so on.
Southwest figured out how to turn an airplane around in 20 minutes, and it still takes United an hour.
And it spreads largely by forcing companies to hire loads of useless people. Productivity depends as much on the functioning of large organizations, and the overall legal and regulatory system in which they operate, as it does on gadgets. Like our ancestors peer at the buildings, aqueducts, dams, roads, and bridges put up by our ancestors, whether Roman or American, and wonder just how they did it.
I think there is another dynamic that’s being ignored — and I would be surprised if an economist ignored it, but I’ll blame Scott’s eclectic ad-hoc education for why he doesn’t discuss the elephant in the room — Superior goods.
For over 70 years this practice has served the needs of Toledo residents. Frankel took over for his father, he committed to providing the same personalized care, warm environment, and complete dedication to our patients.
From our Toledo and Maumee dental offices, we welcome patients from Sylvania, Ottawa Hills, Perrysburg, Whitehouse, and the surrounding areas.