Freakonomics Radio What Exactly Is College For? (Update)
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Aug 15, 2024 In this insightful discussion, Ruth Simmons, the former president of Smith College and Brown University, examines the evolving role of higher education in America. She highlights the market-like behavior of colleges competing for prestige, while addressing the widening gap between elite institutions and community colleges. Simmons emphasizes the transformative power of education, particularly for underrepresented communities, and the crucial support offered by Historically Black Colleges and Universities (HBCUs). The conversation raises vital questions about access, inequality, and the true purpose of college.
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College's Value and Challenges
- College is valuable for individuals and society, but faces declining enrollment and trust.
- This raises the fundamental question of college's true purpose.
Colleges as Competitors
- Colleges, like firms, compete by differentiating their products, including price.
- The U.S. system's chaotic, market-driven approach contrasts with Europe's more regulated model.
U.S. vs. European Universities
- The U.S. has weaker colleges on average but more top universities due to its chaotic system.
- These top universities attract global talent, driven by prestige linked to research strength.
