Universities fail for the exact same reasons that led to the financial collapse of 2008 – they (just as the banks did) forgot what they were designed to do. And opposite to the modern-day banking, university education can be far more easily substituted. 

OK, I wound not start with the banking comparison – obviously it would be wiser to keep it for later on, as it is a sensitive argument, indeed, and provoking one. So let’s take an alternative approach to explain where we currently stand with university education, and what we should expect by discussing why did the housing market in the U.S. basically turned into bubble, and eventually went bust, along with the banking system inflating it – the primary cause of the 2007–2009 recession. It’s simple – it ended up this way, because it broke its linkage with the common sense of doing business in an entrepreneurial economy, turning itself into a deceptive, but yet not-so-clever instrumental bundle of service to the hedge funds, investment banks schemes and products, you name it… Remaining without any meaningful purpose on the outside, and especially in regards to the housing demand & supply logic, to start with.

Continue reading “To Bust, or not to Bust? What’s Next for the Academia World”