The economic crisis has created or given rise to changes in the global economy, such is the point that U.S. politicians are considering the privatization of some very prestigious universities in their country, so they can save a few million dollars.
The main subject matter is on the University of Michigan, which we all know is very prestigious, but because of this lack of money, could no longer be a state-funded university due to the global economic crisis might become private and thus avoid the state to spend 327 million dollars a year in maintenance.
As we see capitalism as it is not a bad system, but like everything else in our lives, if we take it to extremes it will surely become something wrong. U.S. influences the world wich have fallen into extreme capitalism, and as seen in the global economy, there will always be this kind of lows, but some people only know the 1929 one, but if you investigate a little more you’ll be able to see a lot of falls during these times.
Definitely if universities should be privatized education would lower quality, something that the new U.S. president does not want for obvious reasons, which makes this news a bit dubious, but the facts of the economy can help us think about what might happen.
Also universities and ourselves must consider that the families are thinking very carefuly when buying any product or service, as the shortage of money makes us think much about the economy.