The second is the development of information technology. Information and communication is the most important of a long list of things that contribute to our ability to function on a multinational basis with increasing efficiency, much lower transaction costs, and just much less sloppiness all around. And I expect that management education is going to move in parallel with them as they did before. And on the information technology side, how we interact with each other. Let me play economist for a moment.
Higher education is quite labor intensive.
Nobody would deny that. We produce a small number of products and services. We generate content in the form of research and course material. And then we deliver it by transmitting it in several forms. What makes higher education so labor intensive is that you need several hundreds of thousands of people to deliver the content.