Heavy Lifting - thoughts and web finds by an economist
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Wednesday, December 01, 2010

Who says markets don't adjust?

I know that a lot of "experts," pundits and politicians act as markets do not adjust or, if they do, they only adjust from the supply side. This is not correct, of course, but nevertheless the mythology has been created.

This article shows that the market for higher education is adjusting, for both supply-side and demand-side reasons:
Apollo Group Inc., the country's largest for-profit school company, said Monday that it has laid off 700 full-time employees, mostly in student admissions, as enrollment drops off sharply.

In October, Apollo said it expected new students enrolling at University of Phoenix campuses to drop 40 percent in the quarter ending in November and withdrew its profit outlook for its upcoming fiscal year.

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