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Cents and Sensibility
In Cents and Sensibility, an eminent literary critic and a leading economist make the case that the humanities—especially the study of literature—offer economists ways to make their models more realistic, their predictions more accurate, and their policies more effective and just. Arguing that Adam Smith’s heirs include Austen, Chekhov, and Tolstoy as much as Keynes and Friedman, Gary Saul Morson and Morton Schapiro trace the connection between Adam Smith’s great classic, The Wealth of Nations, and his less celebrated book on ethics, The Theory of Moral Sentiments. The authors contend that a few decades later, Jane Austen invented her groundbreaking method of novelistic narration in ...
How Economics Can Help Colleges Be More Efficient
For more than ten years, the Ford Policy Forum, an integral part of the Forum for the Future of Higher Education's annual Aspen Symposium, has been chaired by Michael McPherson and Morty Schapiro, presidents of the Spencer Foundation and Northwestern University, respectively. Its intent has been to explore how economics can make individual colleges and universities and our overall higher education "system" more efficient. The Forum's June 2010 Aspen Symposium marked the completion of the Ford Policy Forum, and to celebrate more than a decade of success, the speakers decided that their final session would return to its roots in economics. The participants are not only economists though--they also wear the hats of college and university administrators. Schapiro acted as moderator of the panel, and McPherson, Dennis Ahlburg and David Breneman as panelists. This paper presents a transcript of what took place at the Forum.
The Student Aid Game
Student aid in higher education has recently become a hot-button issue. Parents trying to pay for their children's education, college administrators competing for students, and even President Bill Clinton, whose recently proposed tax breaks for college would change sharply the federal government's financial commitment to higher education, have staked a claim in its resolution. In The Student Aid Game, Michael McPherson and Morton Owen Schapiro explain how both colleges and governments are struggling to cope with a rapidly changing marketplace, and show how sound policies can help preserve the strengths and remedy some emerging weaknesses of American higher education. McPherson and Schapiro o...
Minds Wide Shut
A timely exploration of intellectual dogmatism in politics, economics, religion, and literature—and what can be done to fight it Polarization may be pushing democracy to the breaking point. But few have explored the larger, interconnected forces that have set the stage for this crisis: namely, a rise in styles of thought, across a range of fields, that literary scholar Gary Saul Morson and economist Morton Schapiro call “fundamentalist.” In Minds Wide Shut, Morson and Schapiro examine how rigid adherence to ideological thinking has altered politics, economics, religion, and literature in ways that are mutually reinforcing and antithetical to the open-mindedness and readiness to comprom...
Keeping College Affordable
As Congress debates the reauthorization of the basic federal student aid legislation, and as governors and state legislators cope with increasingly severe budgetary problems of their own, the issues of preserving college opportunity and sharing the burden of college costs are particularly critical and timely. This book assesses the role of government subsidies for higher education—especially but not exclusively federal student aid—in keeping college affordable for Americans of all economic and social backgrounds. The authors examine the effects of student aid policies of the last twenty years. They address several vital questions, including: Has federal student aid encouraged the enrollm...
Paying the Piper
Examines the successes and problems of U.S. higher education
College Access
Michael S. McPherson is president of The Spencer Foundation in Chicago, a foundation that researches how education can be improved. He is a former president of Macalester College in Minnesota. A nationally known economist who focuses on the interplay between education and economics, McPherson is the coauthor of "Economic Analyses and Moral Philosophy." Morton Owen Schapiro has been president of Williams College in Williamstown, Massachusetts, since 2000. An authority on the economics of higher education, he has written more than 50 articles and has coauthored five books with Michael McPherson, including "The Student Aid Game "and "Keeping College Affordable." America is often seen as a land ...
The Student Aid Game
Student aid in higher education has recently become a hot-button issue. Parents trying to pay for their children's education, college administrators competing for students, and even President Bill Clinton, whose recently proposed tax breaks for college would change sharply the federal government's financial commitment to higher education, have staked a claim in its resolution. In The Student Aid Game, Michael McPherson and Morton Owen Schapiro explain how both colleges and governments are struggling to cope with a rapidly changing marketplace, and show how sound policies can help preserve the strengths and remedy some emerging weaknesses of American higher education. McPherson and Schapiro o...
The Fabulous Future?
Will the future be one of economic expansion, greater tolerance, liberating inventions, and longer, happier lives? Or do we face economic stagnation, declining quality of life, and a technologically enhanced totalitarianism worse than any yet seen? The Fabulous Future? America and the World in 2040 draws its inspiration from a more optimistic time, and tome, The Fabulous Future: America in 1980, in which Fortune magazine celebrated its twenty-fifth anniversary by publishing the predictions of thought leaders of its time. In the present volume, the world’s leading specialists from diverse fields project developments in their areas of expertise, from religion and the media to the environment and nanotechnology. Will we be happier, and what exactly does happiness have to do with our economic future? Where is higher education heading and how should it develop? And what is the future of prediction itself? These exciting essays provoke sharper questions, reflect unexpectedly on one another, and testify to our present anxieties about the surprising world to come.
