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I’m most interested in how universities use these fallow years to experiment
with technology and new ways of delivering education at a cheaper price. For
years, colleges and universities were charmed beneficiaries of both
demography, with climbing teenage populations, and economics, with a weak
economy with growing needs for skilled workers. It’s a truism in economics
that most technological change in any industry takes place not during the
boom times, but during the downturns, when firms have to be clever to
survive. Let’s see if American colleges are smart enough to adapt to the new


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