Allowing universities to be guided by an invisible hand does more harm than good  University degree programmes, unlike other products like televisions or designer shoes, are tools of social mobility: unlike a TV, a good degree will help you to get other good things later in life (like a higher salary). This means that it is important that people have a fairly equal opportunity to access the best degrees. Market forces will make the best universities more expensive than the others, and mean that the best degree places are awarded not to the cleverest, but to those able to afford it. Universities are already elitist despite being open to all and being publicly funded. In the UK class is a major determinant of where you go to university. Oxford University only has 11.5%, and Cambridge 12.6% of its students coming from a working class background compared to an average of 32.3%1. This is a situation that will only get worse as students have to pay for the best private universities.  1 Davis, Rowenna, "Does your social class decide if you go to university? Get the full list of colleges." Guardian.co.uk, 28 September 2010,