Wednesday, October 11, 2006
We can decry the lack of Arabic-language specialists coming out of our universities, if we want. But if a good is in scarce supply, markets normally work to allocate them by raising their price. The higher price should be a signal to students with the ability to learn foreign languages that there's more to be made if they specialize in Arabic rather than French. And if you said you paid a WHOLE LOT extra for someone who has learned Arabic and studied in criminal justice, who knows how the supply of language-learners might react? That would strike me as a better plan, and probably cheaper than creating a new academy system.