The education capitalists have a great plan. We starve the universities by reducing their state funding so much that students can’t easily graduate in 4 years. Then we get our lackeys in the state legislature to pass a law forcing schools to accept online classes as credit. That opens up the possibility for gigantic MOOCs that has two benefits. First, we can cut state education funding even more. Second, we can make a ridiculous amount of money through the continued privatization of education. We then get our useful idiot Thomas Friedman to pretend that his friends at Harvard are great teachers and thus deserve to teach these MOOCs. Then we can lay off all the professors, although we’ll still have to find a way to continue hiring university VPs at six figure salaries.
I mean, there won’t actually be jobs for any university graduates. And they won’t have actually learned anything. But what do we care? We just made $50,000 in the last 4 years off each student!