Blackberry for all, or none at all is stupid

'There are also other concerns expressed by academics. Will teachers flee for greener pastures? Will quality higher education become the exclusive privilege of the rich? Surely, these questions must be reflected upon before Sibal pushes through his reforms.'

I picked that out of an Outlook article on the Foreign universities Bill.

I wonder who these academics are who've expressed such concerns. May I venture to say, despite having raised 'pertinent' questions, the questions are also a reflection of their lack of understanding of the world of business.

Consider the questions.

The first one's about academics fleeing for greener pastures. I wish the academic who raised this question knew how factors of production behave in markets that allow for mobility. In such markets, factors go to wherever the returns are greater. For example, if you had capital to invest where would you consign it to? Into a venture that gives greater or lower returns? Labour too like capital, will seek those engagements that pay better. Of course, pay may not be the only consideration. But whatever the considerations are, labour will engage with those activities and institutions where it believes its returns will be enhanced.

The second question's about quality education being the exclusive privilege of the rich. The answer's pretty simple. That will depend on what the giver of that quality education is going to price it at. If it's going to be a premium price, of course it will be accessible solely to the rich. But lets assume there are stiff admission criterion set. The entry then will be available to the rich but intelligent ones. Let's again assume the banking industry is willing to finance studies in such institutions knowing fully well their graduates will be able to secure jobs that can pay back the education loan taken. Then maybe the middle class, intelligent kid who's taken a loan may also find access.

I'd recommend minimum sentiments when it comes to debating the Foreign universities bill, because sentiment clogs up rational thinking. Foreign universities aren't and mustn't be about anything other than more institutions that sell education services in this sector. The fallout of which is buyers will benefit, despite there being few.

Remember, the Blackberry is not accessible to all because of its pricing. But that's no reason for it not be sold. If some can buy the Blackberry, congratulations, if some can't, that's okay. Because they've got other basic mobile phone models they can buy from. Insisting Blackberry be available to all or not be available at all is simply stupid.

Yeah, simply stupid.

Comments

Anoop Vijayan said…
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Prof.Ray Titus said…
Anoop,

Thank you for putting up my post...Appreciate you reading and using the post.

Anytime you wanna use anything off my blog, you're most welcome. :)
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