"In 1990 the university welcomed slightly more than 1,600 students to its freshman class. In 2008, $32-billion later, it enrolled slightly more than 1,600 freshmen.
That is remarkable stinginess. Harvard undergraduate degrees are immensely valuable, conferring a lifetime of social capital and prestige."
Isn't the reason Harvard undergraduate degrees are immensely valuable precisely the limited supply of them?
"In 1990 the university welcomed slightly more than 1,600 students to its freshman class. In 2008, $32-billion later, it enrolled slightly more than 1,600 freshmen.
That is remarkable stinginess. Harvard undergraduate degrees are immensely valuable, conferring a lifetime of social capital and prestige."
Isn't the reason Harvard undergraduate degrees are immensely valuable precisely the limited supply of them?