I\’ve just written up a quick ad, elsewhere, for a company offering tutoring. US high school sort of stuff. Online tutoring.
They offer 24/7 service, as much as any one child wants, in any and every subject, for $99 a month. No, not per subject, total.
Given the length of the school year that\’s about £700 or so a year I think.
If I set up a free school the government will give me something like £8,000 per year per pupil. A linux type netbook costs about £200 these days.
My God, I\’m going to make a fortune.
Being ever so slightly serious about this though, in the early days of a new technology it\’s not always clear which industries it\’s going to change, revolutionise. We might think the jetliner has transformed tourism but it\’s had as large, or larger, effect on sucking out the need for capital from businesses by enabling just in time stocking of parts.
Arguably the Model T changed dating and marriage habits more than anything else.
It\’s possible that the internet is going to change the education business more than any other sector of the economy. Why ship every child in and out each and every day to watch someone standing on their hind legs lecturing them when you can just beam the same thing to their PC?
What would a \”teach once, learn many\” model do to labour productivity among the educrats, eh?
As William Baumol keeps pointing out, it\’s not the inventions which continually raise productivity, something which is exactly the same as making us all richer, it\’s what people find to do with the inventions which raises productivity which makes us all richer.