Lew Rockwell writes in today’s Mises Daily:
But of course it’s not just our online education that is paving the way for a new kind of education. Back in 2011, when Sebastian Thrun, then a professor at Stanford, decided to begin offing online courses on robotics and artificial intelligence, 160,000 people enrolled in the first class. After that, Thrun decided to leave behind his tenured position and founded a new online education operation through which he believes he can reach half a million students with low-cost higher education taught by some of the world’s best faculty.
The demand for these online educational programs illustrates just how useful they are in the marketplace, and the Mises Institute is already part of this new world of higher education.
At the same time, many colleges or universities are trying to jump on the bandwagon, and for many of them, it is already too late. Many small colleges and universities will be going out of business in coming decades because the costs are high and the benefit to students is low at those institutions. It’s true that the elite schools aren’t going to go out of business, and the big state universities aren’t going to go out of business, but much of the higher education world is feeling the ground moving under its feet, and they’re worried. They should be worried.