The Case Against Free College Education

I have in a prior post alluded to the fact that an economy that is specialized with respect to scientific, financial, and technological innovation cannot afford institution of free education at the College Level. The reasoning is fairly straightforward, which is, the loss of innovation incentives that typically is portended by free education induces equilibriums that are detrimental to economic development in countries whose comparative advantages reside in realm of innovation.

If America is outsourcing traditional manufacturing jobs overseas, can it afford to lose it’s edge with respect to scientific, financial, and technological innovation — the current sources of economic development?

But there yet exists a student centered rationale for avoidance of free education at the College Level.

Suppose a capitalist educational system, and suppose Student A comes from a family which cannot afford a University of Michigan education. Student A, however, is brilliant, such that in context of competitive entry into the University of Michigan, he or she is able to secure a full ride scholarship. Suppose Student A goes on to graduate ‘Summa Cum Laude’. On graduation, the fact that Student A…