Education has become more expensive primarily because demand rose sharply (more people attending high school, college, community college, and graduate school) against a relatively inelastic supply, so an increase in demand pushes price up a lot relative to quantity; this reflects greater access, not unaffordability.

causalpending

Speaker

Russ Roberts

Evidence Quote

education has got more expensive is that a lot more people have access to it and they pushed up the price of something that has a relatively inelastic supply

Source

Bruce Meyer on the Middle Class, Poverty, and Inequality 10/03/2011EconTalk
Created: 6/15/2026, 9:20:26 AM

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