PREFACE AND ACKNOWLEDGMENTS ix
FOREWORD TO THE PAPERBACK EDITION xvii
CONTRIBUTORS xxv
Part 1. Costs and Productivity in Higher Education 1
Cost Trends, the "Cost Disease," and Productivity in Higher Education 2
Factors Other Than the Cost Disease Pushing Up Educational Costs 9
Affordability 18
Is There a Serious Problem--Even a Crisis? 24
Notes 27
Part 2. Prospects for an Online Fix 43
Background 44
The Lack of Hard Evidence 46
The Need for Customizable, Sustainable Platforms (or Tool Kits) 55
The Need for New Mindsets--and Fresh Thinking about Decision-Making 62
What Must We Retain? 67
Appendix: The Online Learning Landscape 72
Notes 77
Discussion by Howard Gardner 97
Discussion by John Hennessy 109
William G. Bowen's Responses to Discussion Session Comments by Howard Gardner and John Hennessy 123
Discussion by Andrew Delbanco 129
Discussion by Daphne Koller 145
William G. Bowen's Responses to Discussion Session Comments by Andrew Delbanco and Daphne Koller 157
APPENDIX TO THE PAPERBACK EDITION 163
INDEX 191

How online learning could help control the exploding cost of higher education
Two of the most visible and important trends in higher education today are its exploding costs and the rapid expansion of online learning. Could the growth in online courses slow the rising cost of college and help solve the crisis of affordability? In this short and incisive book, William G. Bowen, one of the foremost experts on the intersection of education and economics, explains why, despite his earlier skepticism, he now believes technology has the potential to help rein in costs without negatively affecting student learning. As a former president of Princeton University, an economist, and author of many books on education, including the acclaimed bestseller The Shape of the River, Bowen speaks with unique expertise on the subject.
Surveying the dizzying array of new technology-based teaching and learning initiatives, including the highly publicized emergence of "massive open online courses" (MOOCs), Bowen argues that such technologies could transform traditional higher education-allowing it at last to curb rising costs by increasing productivity, while preserving quality and protecting core values. But the challenges, which are organizational and philosophical as much as technological, are daunting. They include providing hard evidence of whether online education is cost-effective in various settings, rethinking the governance and decision-making structures of higher education, and developing customizable technological platforms. Yet, Bowen remains optimistic that the potential payoff is great.
Based on the 2012 Tanner Lectures on Human Values, delivered at Stanford University, the book includes responses from Stanford president John Hennessy, Harvard University psychologist Howard Gardner, Columbia University literature professor Andrew Delbanco, and Coursera cofounder Daphne Koller.

William G. Bowen is president emeritus of the Andrew W. Mellon Foundation and Princeton University and founding chairman of ITHAKA, a nonprofit dedicated to sustainably integrating technology into scholarly research and teaching. He is the author or coauthor of many books, including the acclaimed best seller The Shape of the River, Crossing the Finish Line, and Lessons Learned (all Princeton). Kevin M. Guthrie is president of ITHAKA.