Monday, May 3

A brilliant (but controversial) idea

This is a brilliant idea. As reported in the Toronto Star, a prof has started a business where university papers are sent to India to be marked. It seems that the Indian markers can do the grading cheaper and more effectively than profs and teaching assistants at certain universities.

It's a great example of how comparative advantage and specialization can make life better. The Indian markers have a comparative advantage marking papers, and the profs have a comparative advantage in lecturing and research. Outsourcing allows the profs to focus on what they're good at and allows the Indian markers to make some money.