Yesterday afternoon, I happened to stop by Elizabeth Warren’s office and she was chatting with Susan Dynarski, a colleague from the Kennedy School of Government. They were talking about Professor Warren’s seminar that evening (“Legal Policies, Economic Policies and the Middle Class”). Professor Dynarski would be leading the discussion:
“You should come sit in, Toby—today’s discussion is right down your alley.” The session was to be about the costs and benefits of a college education: does a college education pay off and does it pay off for everyone? If so, what are the policy implications?
I arrived a few minutes early and took a seat in the corner. Most of the students were already there and were buzzing about earlier classes. The student sitting next to me told me about his Con Law class with Minow—I heard a bit about Montesquieu, and nearby students weighed in on the subject of “checks and balances.”
When the class began, I counted 22 people in a class with 18 registered students (its seems that I wasn’t the only guest), and of course, Elizabeth Warren and Susan Dynarski. Professor Dynarski started running through the costs of college in a PowerPoint presentation and the students immediately broke in with questions. This was not a one-way lecture! Mostly the questions were at a very high level (“Doesn’t the lower cost at public universities minimize the ability of the institution to price discriminate in favor of low-income applicants?”), though we did get a bit caught up on the discounted-cash-flow model used to weigh costs against benefits. Okay, that was my fault—my not-so-dormant consultant training wouldn’t let me keep my mouth shut on that one…
Then the policy discussion began. A question was posed, “To maintain competitiveness in a global market should we be encouraging more PhDs in science or should we be focusing on more access on the margins—more training for assembly-line workers so the line is more efficient?” Professor Warren suggested, “If we’re making bets on keeping our people economically ‘safe’ for the next 30 years, shouldn’t our money be on more education for more people?” She was throwing out to the group the idea of universally free or even mandatory college education. Someone countered, “But even if everyone gets a college education, aren’t there still going to be waitresses and gardeners? Isn’t the opportunity cost of college just a net loss for them?”
The freewheeling discussion went on ten minutes past the end of class, and no one noticed, until finally, Professor Warren happened to check the clock, “Oh! We’re over. Okay, guys, I’ll e-mail tonight with the readings for next time.” The class applauded the guest lecturer and I slipped out the door.
Most notable for me as an (almost) quiet observer was how difficult it was NOT to get involved in the conversation. In fact, though some people contributed more than others, it looked to me like EVERYONE participated in the discussion. Now I’m just hoping that I get included on that e-mail list…