by Gary North
I earned my Ph.D. in 1972. What I am about to describe is academically feasible. It is surely economically feasible.
Wal-Mart should start a college. As with virtually all colleges, it would be called a university. Why? Because of higher perceived value by the consumers.
Why should Wal-Mart bother? Here is a good reason. The total expenditure in the United States on higher education is in the range of a third of a trillion dollars a year. That is a great deal of money. Wal-Mart is not a company to let a large profit opportunity drift by.
You would be hard-pressed to find any industry with this level of income that is less efficient than higher education. If Wal-Mart gets into the field, this will change.
Wal-Mart could offer far lower tuition than any other private university, and lower than 80% of tax-funded universities. All it needs to do is offer what is already available, but which almost no one knows about.
For more on this op/ed, go to LewRockwell.com