Peter Blair, a Harvard education professor and labor markets expert, dives into the challenges facing America's elite colleges. He discusses the paradox of increasing demand with stagnant supply, questioning why these institutions resist expansion despite rising applicant pools. The conversation also explores the impact of wealth on admissions, the implications of recent Supreme Court rulings on diversity, and the broader value of degrees today. Blair urges a reevaluation of the educational landscape, spotlighting access and the need for reform.
The college admissions scandal highlighted how wealth and privilege can compromise the integrity of elite university admissions processes.
Record application numbers to prestigious universities reflect increased competition and exclusivity, leading to a perception that acceptance equates to life advantages.
Expanding access to elite universities could potentially enhance their prestige, challenging the existing frameworks that prioritize selectivity and exclusivity.
Deep dives
Operation Varsity Blues and Its Implications
Operation Varsity Blues exposed a significant college admissions scandal where wealthy parents bribed colleges to secure placements for their children at prestigious universities. This included examples such as a famous actress and her husband paying substantial sums to falsify athletic credentials for their daughters' admission to USC. The scandal raised serious questions about the integrity of college admissions processes at elite institutions, indicating that money could too easily influence outcomes. Ultimately, it revealed that admissions at these highly selective schools are not solely merit-based; they also reflect power and privilege.
The Diverging Landscape of College Admissions
The podcast discusses the stark differences between open enrollment colleges and highly selective ones, highlighting a trend where elite universities receive an ever-increasing number of applications while their acceptance rates drop. In recent years, prestigious institutions like Harvard and Stanford have seen record increases in applications, driven by a competitive environment that has intensified post-pandemic. This exclusivity and heightened demand create a paradox; while the desire for admission is high, the actual opportunities available continue to shrink, making these schools more coveted. This dynamic has resulted in a broader societal perception that acceptance into these schools equates to a substantial advantage in life.
Scarcity and Prestige in Education
The concept of scarcity in elite education is likened to luxury goods, where limited availability enhances desirability. Elite universities intentionally maintain their selectivity to uphold prestige, even at the expense of admitting more students who could benefit from their education. Economists argue that when institutions restrict supply, it nurtures a competitive climate that reinforces their status among peers. This leads to a situation where the schools benefit from a cycle of exclusivity, keeping their positions elevated and desirable in the eyes of prospective students and employers.
The Role of Reputation vs. Education Quality
The discussion reveals that while students often value education, many prioritize the reputation associated with attending top-tier universities more than the actual educational experience. This prioritization is evident as students perceive that the brand value of an Ivy League education can open doors, regardless of the content learned during their studies. Some students acknowledge that while the education they receive is superb, the prestige tied to their university significantly boosts their professional trajectory and social networks. This implies a troubling trend where an institution's status may overshadow the intrinsic value of the education provided.
Potential Solutions for Expanding Access
The podcast posits that expanding access to elite universities might actually enhance their prestige rather than diminish it. By exploring the successful expansion of the University of California system as a model, it suggests that creating additional campuses can increase student enrollment without sacrificing reputation. Policymakers could even consider incentivizing or regulating elite schools to coordinate admissions strategies that prioritize greater public access. However, achieving this might require significant shifts in the current prestige-oriented frameworks that govern elite college admissions.
America’s top colleges are facing record demand. So why don’t they increase supply? (Part 2 of our series from 2022, “Freakonomics Radio Goes Back to School.”)
SOURCES:
Peter Blair, professor of education at Harvard University and faculty research fellow at the National Bureau of Economic Research.
Zachary Bleemer, assistant professor of economics at Princeton University and faculty research fellow at the National Bureau of Economic Research.
Amalia Miller, professor of economics at the University of Virginia.
Morton Schapiro, professor of economics and former president of Northwestern University.
Miguel Urquiola, professor of economics at Columbia University.
