The 'education bubble,' like any asset bubble, is not merely a financial crisis. It is a moral crisis: a misallocation and distortion of value. The underlying problem of the modern university is a crisis of integrity and purpose.

"A list of the modern university's dysfunctions: corrosive ideology, administrative bloat, virtue signaling, a bureaucratic management culture, low standards and grade inflation, cultural amnesia, a focus on employment and material success, proliferation and fragmentation of disciplines, ballooning tuition costs and rising student debt, a student-services arms race, prestige-envy and rankings games, distracting and meaningless assessment requirements, endowment hoarding, increasing dependence on low-wage adjunct faculty, careerism and neophilia, and worthless research (including citation rings and an embarrassing “replication crisis” in the social sciences).

Clearly the modern university shows plenty of signs of illness!

Some offer an economic explanation: all these trends are subsidized by market distortions creating an unsustainable “education bubble.” A disillusioned public is increasingly unwilling to support the debased currency of higher education, and the pandemic only adds pressure to deflate the system, with some colleges already cutting or closing.

My own view is that the “education bubble,” like any asset bubble, is not merely a financial crisis. It is a moral crisis: a misallocation and distortion of value. The underlying problem of the modern university is a crisis of integrity and purpose."

Submitted November 28, 2020 at 11:32AM by Snap_Dragon11 https://ift.tt/36gDJY7