It is the scale that matters. Large scale means cheaper the product for the consumer and enough profits for the Industry, its middlemen, stockists, retailers, etc. This basic and sound economic principle has been put to good use by none other than the a quaint University tucked away inconspicuously in South India which is reported to have sold 9000 and odd Ph.D degrees in less than 2 years at as little as Rs.50,000 to Rs,1,00,000 per degree.
I hope the newspaper report is not wrong. Though I am dismayed by the spoil-sport Minister threatening cancellation of the degrees and ordering enquiry against the VC, it is comforting to know that only degrees can be cancelled and not the transactions already over. Individually these deals may be chicken feed but cumulatively a tidy fortune.
We should tread in a cautious manner as there coud be cascading effect on the tranquility of our society. What will happen to the appointments made based on these Ph.Ds which again would have involved other transactions as these degrees are not ends but means.
India is a Knowledge Power and it is heartening to see knowledge of economics put to practical use in a big way, naturally by a knowledge centre.
It is also heartening to note that Public Sector is catching up with Private Sector. This University is no one-room cubby hole selling degrees. It should be granted 'Navaratna' status.
This should not, I hope, put the entire Ph.D industry under scanner. Who knows how many more enterprising VCs are out there.
...ponder
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