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N+1 Magazine on the Education Bubble

April 28, 2011

Many of the thoughts in today’s link have been summarized in other articles I have posted, but I find this link from N+1 Magazine to be an excellent summary of the economics behind the utter destruction of higher education in this country.  In particular, the following excerpt stands out:

“with so much available debt, universities can force graduate student workers to scrape by on sub-minimum-wage, making them a great source of cheap instructional labor. Fewer tenure-track jobs mean that recent PhDs, overwhelmed with debt,  have no choice but to accept insecure adjunct positions with wages kept down by the new crop of graduate student-workers. Rather than producing a better-trained, more professional teaching corps, increased tuition and debt have enabled the opposite.”
So, not only is higher tuition causing a huge economic bubble, it’s also destroying the value of students’ educations.  Brilliant.

Read the entire, extensive, article at


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