Sunday, October 12, 2008
Robbing Taxpayers Via Student Loans And College Subsidies
Of course, as he states on his blog, Greg Mankiw will gladly give a free copy to college professors who are in the position of forcing their students to bear this disgusting financial burden.
Point of fact, forget free, Greg should actually PAY professors to sample this textbook - given his personal profit potential. That's an economic lesson certainly not covered directly in the text!
His books are akin to over-priced pharmaceuticals covered by Medicare. Much like many of these taxpayer-funded drugs, not only are they inflated, a hefty chunk (40%) are ineffective. Furthermore, his books are also like many of the useless pills your grandparents are popping in that THEY MIGHTN'T EVEN HAVE BEEN INVENTED (written) IN THE FIRST PLACE WITHOUT BIG GOVERNMENT MEDDLING.
Question for Econ-101 Students:
How much lower would the price of Mankiw's book be if we had an educational market free of government distortion?