Let Colleges Fail by Richard K. Vedder
7.5 out of 10America has many universities traditionally considered among the best in the world. Even mid-level schools in the US have given the whole institution an exceptional reputation. In addition to diplomas, students typically exit college having gained many valuable experiences. Also, the general public receives many indirect benefits. But things have changed in recent years.. Skyrocketing tuition is outpacing inflation. The quality of in-class instruction is questionable. New graduates are having trouble seeking employment.
This book proposes that colleges are protected from failure and have little incentive to actually improve. The government gives subsidies, exemptions, and bailouts. The "independent" accreditation commission acts as a cartel. Bloated administrations work hard to make themselves indispensable. Unfashionable views are shunned. Intellectual debate is rare. Politics are partisan. Grades are inflated. Results are rigged. Decisions are made by backroom committees. Athletics, hospitals, endowment funds invested in capital markets, housing, parking, research, and publishing are prioritized above teaching.