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Economic Theory Commons™

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Public Economics

Lester G Telser

Selected Works

Articles 1 - 3 of 3

Full-Text Articles in Economic Theory

An Economist's Analysis Of The Voting Paradox, Lester G. Telser Feb 2015

An Economist's Analysis Of The Voting Paradox, Lester G. Telser

Lester G Telser

It has been said that democracy is the worst form of government except all the others that have been tried. The best argument against democracy is a five-minute conversation with the average voter. Winston Churchill

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Non Profit Suppliers Of Higher Education: Corollaries, Lester G. Telser Dec 2014

Non Profit Suppliers Of Higher Education: Corollaries, Lester G. Telser

Lester G Telser

The American Association for the Advancement of Science bills Harvard University $26,675 for a one year subscription to their weekly publication Science. That anon profit suppliers of higher education is willing to pay such amounts far above the true incremental cost of supplying it with such publications is a corollary of the economic explanation of their behavior. Nonprofit Organizations JEL L30

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Ricardian Rent Explains Costs Of Elite Colleges, Lester G. Telser Oct 2013

Ricardian Rent Explains Costs Of Elite Colleges, Lester G. Telser

Lester G Telser

Elite colleges are non profit institutions with limited capacity. An excess of receipts over costs due to higher demand for admission produces a surplus that could destroy their non profit status. To prevent this, elite colleges raise costs in the form of increased payments to their administrators and other favored recipients. This creates a commensurate higher cost by enough for elite colleges to maintain their non profit status. Nonprofit Organizations JEL L30, Economic Science JEL B30

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