Wednesday, October 10, 2012

Mr. University is out to corner the education market

Alex Tabarrok made a clever point that in hindsight, is blatantly obvious.

New online education models, such as Marginal Revolution University, will allow the best teachers to take a larger share of the students.

The mechanism we see here is our old friend, the rock star theory of rising inequality, where technology allows fewer and fewer musicians to rise to the top, reach a wider audience and take a bigger share of the profits.

It can work the same way with teachers, where microphones and videos let them reach more students and the most popular ones will attract large classes while lackluster teachers will get less and less.

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