Isn't the real problem the economisation of education? The desire to express the value of education in monetary terms is really only useful for those running education businesses, like e.g. many of today's universities in the US ans UK.
One side effect of the economisation of education is the desire to quantify and standardise "academic quality". For example, setting minimum pass rates for modules, which ultimately leads to declining assessment standards. Or "value added" as a major criterion for educational success, i.e. how much students improve as opposed to how well they did overall (leading to universities taking on many students who are actually not fit for study, because as long as they graduate, much "value" is added for them).
Education has a value beyond money, and in countries where education is free or low cost (like Germany) it is often organised around providing the student with the opportunity to learn, rather than focusing on graduating as many students as possible. It is in the responsibility of the student to make use of the resources provided, rather than the responsibility of the provider to satisfy a paying customer. Students who graduated from such universities often are more capable of independent thinking in my experience.
One side effect of the economisation of education is the desire to quantify and standardise "academic quality". For example, setting minimum pass rates for modules, which ultimately leads to declining assessment standards. Or "value added" as a major criterion for educational success, i.e. how much students improve as opposed to how well they did overall (leading to universities taking on many students who are actually not fit for study, because as long as they graduate, much "value" is added for them).
Education has a value beyond money, and in countries where education is free or low cost (like Germany) it is often organised around providing the student with the opportunity to learn, rather than focusing on graduating as many students as possible. It is in the responsibility of the student to make use of the resources provided, rather than the responsibility of the provider to satisfy a paying customer. Students who graduated from such universities often are more capable of independent thinking in my experience.