by JOHN E. CHUBB And TERRY M. MOE, Wall Street Journal
Over the long term, online technology promises historic improvements in the quality of and access to higher education. The fact is, students do not need to be on campus at Harvard or MIT to experience some of the key benefits of an elite education. Moreover, colleges and universities, whatever their status, do not need to put a professor in every classroom. One Nobel laureate can literally teach a million students, and for a very reasonable tuition price. Online education will lead to the substitution of technology (which is cheap) for labor (which is expensive)—as has happened in every other industry—making schools much more productive. But like countless industries before it, higher education will be transformed by technology—and for the better. Elite players and upstarts, not-for-profits and for-profits, will compete for students, government funds and investment in pursuit of the future blend of service that works for their respective institutions and for the students each aims to serve.
http://online.wsj.com/article/SB10001424052702304019404577416631206583286.html
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