Episode 272: Markets With Limits, Pt. 1
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Is There a Better Way to Accredit Universities?
The Academy has a problem of hiring very young people actually for these jobs. In order to keep those jobs, they have to publish a lot and in really good journals. We've turned that on its head. I'm not sure there's a better way. This is beyond my expertise. But my limited understanding is the art market functions not so much to identify excellence, but to identify things which could be held to be excellent. And if somebody turns out the bear producing sort of shoddy work, reference is a bad, and so forth, then they lose market shareReally quickly. So there we could have a market-orientated approach, which would have very careful excellent work smuggled into academic
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