Should governments intervene in the demand and supply of higher education courses, or should it be left up to market forces?

Earlier this year, the Australian government announced a reform package that would double the cost of some humanities degrees while lowering fees of those in areas of expected job growth. This proposal added fuel to the on-going debate on the societal and market value of studying the humanities. Sitting on the sidelines is an under-discussed implication: there will be fewer humanities teachers with strong content knowledge, at the expense of our students.

Highly sought-after courses are not spared too. The United States government has been limiting the number of new doctors that its higher education system produces each year, resulting in a physician shortage and high healthcare prices.

Perhaps the real question that begs answering is: is education still about the pursuit of knowledge, or has it evolved to become merely the means to an end—the acquisition of sufficient skills and abilities to stand out in an increasingly competitive job market?