When I went to Harvard in the early 1970s, the cost of tuition, room & board was about $4,000 per year. Let's assume that $3,000 was tuition. For eight courses of one semester each, the tuition amounts to $375 per course.
Hmmm ... that number is not too far off from the current cost that I computed in yesterday's blog for the cost of a technologically modern course to be delivered to a student.
Thus we see that the entire gains and more from productivity over 40 years have been grabbed by the pharisee class as monopoly profits to themselves by price increases; nothing was passed through to consumers of the education services.
The true cost of college education per course: about $100 for the lectures on the material, $100 for books and reading, and about $200 for grading services and Q&A. By technology, this could be kept at early 1970s cost, BUT the pharisees want more ... for providing nothing extra.