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The Economics of For-Profit Education

  • Tyler Cowen
  • Sam Papenfuss
Chapter

Abstract

For-profit higher education has grown rapidly in the United States over the last 20 years. Examples include vocational schools, technical training, in-house corporate education, the DeVry Institute, Phoenix University, and other new for-profit ­colleges. In addition, a number of developing countries, most prominently the Philippines, have experimented with for-profit higher education in the past. Adam Smith, writing in 1776, associated for-profit education with high levels of ­instructional quality, and claimed that endowed, nonprofit education resulted in shirking and poor teaching.

Keywords

Agency Problem Faculty Governance Nonprofit Institution Academic Reputation Nonprofit Status 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer New York 2010

Authors and Affiliations

  1. 1.George Mason UniversityFairfaxUSA

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