The admissions rate at columbia was around about 30 %. When you look at harvard and stanford, it's closer to about four or five%. The students that are getting into these universities now are even more qual than when i was going to college. Maybe there just aren't enough qualified phd to teach a bigger pool of alete students.
America’s top colleges are facing record demand. So why don’t they increase supply? (Part 2 of “Freakonomics Radio Goes Back to School.”)