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Academic Capitalism

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Thomas Frank eviscerates the system of academic capitalism that is destroying higher education in the United States. There is so many wonderful excerpts to this essay, but I’ll choose just one here:

The disaster that the university has proceeded to inflict on the youth of America, I submit, is the direct and inescapable outcome of this grim equation. Yes, in certain reaches of the system the variables are different and the yield isn’t quite as dreadful as in others. But by and large, once all the factors I have described were in place, it was a matter of simple math. Grant to an industry control over access to the good things in life; insist that it transform itself into a throat-cutting, market-minded mercenary; get thought leaders to declare it to be the answer to every problem; mute any reservations the nation might have about it—and, lastly, send it your unsuspecting kids, armed with a blank check drawn on their own futures.

Was it not inevitable? Put these four pieces together, and of course attendance costs will ascend at a head-swimming clip, reaching $60,000 a year now at some private schools. Of course young people will be saddled with life-crushing amounts of debt; of course the university will use its knowledge of them—their list of college choices, their campus visits, their hopes for the future—to extract every last possible dollar from the teenage mark and her family. It is lambs trotting blithely to the slaughter. It is the utterly predictable fruits of our simultaneous love affairs with College and the Market. It is the same lesson taught us by so many other disastrous privatizations: in our passion for entrepreneurship and meritocracy, we forgot that maybe the market wasn’t the solution to all things.

But as Frank points out later, whatever happens, whenever the bubble bursts, whenever students revolt, the inevitable answer will be MORE market, more capitalism, more of the same that puts the tuition dollars in the hands of the administrators and takes it away from teachers or doesn’t take it away from students at all. It’s incredibly depressing.

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