The market for elite credentials probably looks a lot more like the market for luxury goods than it does for ordinary goods. Harvard has the money where it could enroll thousands and thousands of more students. But then, you know, it wouldn't be able to accept fewer than 9% of the people who apply. So philanthropic giving to wealthy institutions is almost exclusively of like reputational laundering rather than advancing a social mission.
Featuring Dennis Hogan on the crisis in higher education. The first in a two-part series. Next up: Donna Murch and Todd Wolfson on how university workers can fight back through industrial unionism.
Read Dan's interview in The Nation thenation.com/article/world/qa-daniel-denvir
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Buy On Shedding an Obsolete Past: Bidding Farewell to the American Century by Andrew Bacevich haymarketbooks.org/books/1949-on-shedding-an-obsolete-past