119. Higher Education Is Broken. Can It Be Fixed?

Economist Michael D. Smith says universities are scrambling to protect a status quo that deserves to die. He tells Steve why the current system is unsustainable, and what’s at stake if nothing changes. RESOURCES: The Abundant University: Remaking Higher Education for a Digital World , by Michael D. Smith (2023). " Diversifying Society’s Leaders? The Determinants and Causal Effects of Admission to Highly Selective Private Colleges ," by Raj Chetty, David J. Deming, and John N. Friedman ( NBER Working Paper, 2023). " Are Universities Going the Way of CDs and Cable TV? " by Michael D. Smith ( The Atlantic, 2020). " For Sale: SAT-Takers’ Names. Colleges Buy Student Data and Boost Exclusivity ," by Douglas Belkin ( The Wall Street Journal, 2019). " High School GPAs and ACT Scores as Predictors of College Completion: Examining Assumptions About Consistency Across High Schools ," by Elaine M. Allensworth and Kallie Clark ( Educational Researcher, 2020). " Mobility Report Cards: The Role of Colleges in Intergenerational Mobility ," by Raj Chetty, John N. Friedman, Emmanuel Saez, Nicholas Turner, and Danny Yagan ( NBER Working Paper, 2017). " How U.S. News College Rankings Promote Economic…