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2005 The University as Business A number of colleges and universities have announced steeptuition increases for next year much steeper than the current, very low, rate of inflation. They say the increases are needed because of a loss in value of university endowments heavily investing in common 1 stock. I am skeptical. A business firm chooses the price that maximizes its net revenues, irrespective fluctuations in income; and increasingly the 2 outlook of universities in the United States is indistinguishable from those of 3 business firms. The rise i