By JOSEPH MARR CRONIN and HOWARD E. HORTON
The public has become all too aware of the term “bubble” to describe an asset that is irrationally and artificially overvalued and cannot be sustained. The dot-com bubble burst by 2000. More recently the overextended housing market collapsed, helping to trigger a credit meltdown. The stock market has declined more than 30 percent in the past year, as companies once considered flagship investments have withered in value.
Is it possible that higher education might be the next bubble to burst? Some early warnings suggest that it could be.
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