How is education affected by the market? Traditional universities are nonprofit, but an increasing number of for-profit institutions are developing. For-profit universities have advantages; the cost...

How is education affected by the market? Traditional universities are nonprofit, but an increasing number of for-profit institutions are developing. For-profit universities have advantages; the cost is low, the university owns the curriculum, and students can graduate quickly. On the downside, professors are paid less and have less security and prestige, social lives of students suffer, and the degree holds less prestige. For-profit colleges have spurred marketing of traditional universities, which also spills over into elementary and secondary schools that have corporate sponsors.