Academia Progresses "One Funeral at a Time"

Pick up any business magazine or how-to management book, and you’ll run into words like “nimble” and “move fast” on virtually every page. The ability to change direction and shift priorities in reaction to consumer preferences or competitor actions often makes a decisive difference in marketplace success. One can’t think of an enterprise less “nimble” than the modern American university. Or a practice better designed to limit flexibility than...

 Intellectuals Must Engage the Public, Not Hide From It

A final point, something I've written about elsewhere (e.g., in a discussion in Z papers, and the last chapter of "Year 501"). There has been a striking change in the behavior of the intellectual class in recent years. The left intellectuals who 60 years ago would have been teaching in working class schools, writing books like "mathematics for the millions" (which made mathematics intelligible to millions of people), participating in and speaking for popular organizations, etc., are now large...

 If a Harvard Degree is So Valuable, Why Not Franchise It?

But what if higher education is really just the final stage of a competitive tournament? From grades and test results through the U.S. News & World Report rankings of the colleges themselves, higher education sorts us all into a hierarchy. Kids at the top enjoy prestige because they’ve defeated everybody else in a competition to reach the schools that proudly exclude the most people. All the hard work at Harvard is done by the admissions officers who anoint an already-proven hypercompet...

 Student Loans will Exceed $1 Trillion

Two things, however, are clear. The size of student debt is vast (see chart), and lots of borrowers are struggling. More than 10m students took out loans for the latest academic year, according to a report issued on October 26th by the College Board, a consortium of academic institutions. Almost a third of students graduating from college, and 69% of the ones dropping out, hold debt tied to their education. The total amount of debt is staggering. The New York Federal Reserve Bank puts it at ...

 Universities Targeting Out-of-State Admissions for Tuitio...

Colorado Mesa University was typical of most public institutions in the fall of 2007, with out-of-state students making up a small number, about 5 percent, of the overall student body. But when the economic downturn hit in the fall of 2008, and state support for higher education began dwindling, Colorado Mesa President Tim Foster knew it was time to shake up the status quo. He decided to aggressively recruit out-of-state students, who pay 50 percent to 60 percent more than do Colorado residen...

 College Tuition Becoming Unnaffordable

[Report from the National Center for Public Policy and Higher Education] found, published college tuition and fees increased 439 percent from 1982 to 2007 while median family income rose 147 percent. Student borrowing has more than doubled in the last decade, and students from lower-income families, on average, get smaller grants from the colleges they attend than students from more affluent families. [...] “The middle class has been financing it through debt,” he said. “The scenario ...

 PhDs Lack Skills for Surviving Outside Academia

Inefficiency arises from the fact that substantial resources have been invested in training these scientists and engineers. The trained have foregone other careers – and the salary that they would have earned – along the way. The public has invested resources in tuition and stipends. If these ‘investments’ are then forced to enter careers that require less training, resources have not been efficiently deployed. Surely there are less expensive ways to train high school science teachers...

 PhD Leaves You Unprepared for Non-Academic Work

The truth is that a life science PhD leaves you poorly prepared to get a job doing anything else: 1) Grad programs put very little emphasis on developing writing skills – you maybe write 4-5 documents (proposal, 2-3 papers, plus thesis) over seven years of grad school, with very little feedback on quality of the writing itself. 2) Life science PhDs lack quantitative and computer skills – your physicist or comp sci peers will leave you in the dust when it comes to filling non-science ‘...

 Law School is a Cash Cow

In the Wonderland of these statistics, a remarkable number of law school grads are not just busy — they are raking it in. Many schools, even those that have failed to break into the U.S. News top 40, state that the median starting salary of graduates in the private sector is $160,000. That seems highly unlikely, given that Harvard and Yale, at the top of the pile, list the exact same figure. [...] IT is an open secret, Professor Henderson and others say, that schools finesse survey inform...

 The Cultural Problems with Academia

Like any good bubble, this belief– while rooted in truth– gets pushed to unhealthy levels. Thiel talks about consumption masquerading as investment during the housing bubble, as people would take out speculative interest-only loans to get a bigger house with a pool and tell themselves they were being frugal and saving for retirement. Similarly, the idea that attending Harvard is all about learning? Yeah. No one pays a quarter of a million dollars just to read Chaucer. The implicit promise...