There is continuing controversy over whether there is a higher-education bubble, but higher ed has definitely been "in the bubble" for a long time, deliberately sealed off from any connection to its underlying economic value. Consider a report on recent attempt by several state governments to gather data on the earnings prospects of graduates from different schools and in different majors. What struck me most was the bar graph comparing the annual tuition at the University of Virginia with average salary 18 months after graduation.
Higher Education in the Bubble
Higher Education in the Bubble
Higher Education in the Bubble
There is continuing controversy over whether there is a higher-education bubble, but higher ed has definitely been "in the bubble" for a long time, deliberately sealed off from any connection to its underlying economic value. Consider a report on recent attempt by several state governments to gather data on the earnings prospects of graduates from different schools and in different majors. What struck me most was the bar graph comparing the annual tuition at the University of Virginia with average salary 18 months after graduation.