What beats Oxford and costs less than Harvard? A group of star UK professors has an answer: their new, 18,000 pounds-a-year ($29,400) arts-only college. It's like the educational equivalent of setting up a boutique investment bank. The London-based New College of the Humanities can be seen as a free-market response to the decline in UK government support for the humanities. With a focus similar to U.S. liberal arts colleges, it will offer five arts subjects (counting economics) with one-to-one teaching. This was previously available only at Oxford and Cambridge, and even there it's proving.