Inflation was believed to be driven largely by non-monetary factors, and most people believed that if you tried to control inflation using monetary policy, the primaryeffect would be to throw a lot of people out of work.
These will be hard to erase even if new primary rules, which came into effect in time for votes on June 5th, succeed in making races more competitive (the jury is still out on this).
But using prestige as the primary (if not sole) signal of educational quality can have a keenly perverse effect on higher education, particularly to the extent that prestige encourages escalating costs.