> Makes no sense to me. Any person who thinks something is more expensive than it can be; can start his own college and win over the market while making a lot of money.

No, because there are enormous barriers to entry. We can, however, see that many other countries have similarly good universities that don't cost as much per pupil.

> How can a person claim to know the value of other people's labor ?

Every person who has ever hired someone does that.