IN MY SOON-TO-APPEAR HIGHER EDUCATION BUBBLE BOOK, I note that the bubble’s bursting will force administrators to realign priorities. So far, that doesn’t seem to be happening in Florida: University of Florida Eliminates Computer Science Department, Increases Athletic Budgets.
UPDATE: Tyler Cowen comments: “I see this as illustrating how university incentives are not always aligned with those of the Governor or with the social interest. As Governor, Scott can more easily direct new funds towards STEM than tell entrenched university bureaucracies how to reallocate funds among existing programs. In particular Scott wants to promote STEM and computer science graduates for the externalities they produce but universities don’t get paid for producing externalities.” Though the externalities are what they point to when they want money.
Or maybe it’s just the old Washington Monument strategy.