Friday, September 23, 2011

Thought for the day

Traditionally in education expertise is analogous to talent in the music industry – it is the core element of scarcity in the model. In any one subject there are relatively few experts (compared with the level of knowledge in the general population). Learners represent the ‘demand’ in this model, so when access to the experts is via physical interaction, for example, by means of a lecture, then the model of supply and demand necessitates that the learners come to the place where the experts are located. It also makes sense to group these experts together, around other costly resources such as books and laboratories. The modern university is in this sense a solution to the economics of scarcity.

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