Although colleges and universities do sell goods and services, make them with purchased inputs and hired workers, use plants and equipment, and compete for customers and faculty inputs, they are fundamentally economically different from businesses in a number of ways. The unique costs, prices, production technologies, and markets of higher…

Mary Berry's speech suggesting that America had much to learn from Chinese education prompted a sharply critical letter from Albert Shanker, head of the American Federation of Teachers. Parts of the speech and the subsequent exchange with Shanker are reprinted here. (LBH)

Faculty jobs have a remarkable degree of freedom compared to other jobs, but they have comparatively low salaries. The income difference between academic employment and employment in corporations, law firms, and medicine causes morale problems in faculties. (MLW)