The Daily Chart
/If you see a chart that aggregates long-term inflation trends by sector, you will know that the two sectors that have seen the highest cost increases over the last 30 years are health care and higher education. What do these two sector have in common? Both are dominated by government spending and regulations (especially subsidize student loans for higher ed). In other words, market forces that might discipline both sectors were obliterated. Last week we noted the bloat in K-12 administration, but that’s nuthin’ compared to administrative bloat in health care:
And here’s the K-12 education chart he refers to:
If you want to see the problem with American education, look at a chart illustrating the comparative growth in the number of students, teachers, and district administrators in our public schools in the period between 2000 and 2019. (See the chart below.) The number of district administrators grew by a whopping 87.6 percent during these years, far outstripping the growth in the number of students (7.6 percent) and teachers (8.7 percent).
