Richard Vedder is Distinguished Professor of Economics Emeritus at Ohio University, a Senior Fellow at the Independent Institute, and a board member of the National Association of Scholars. His next book is Let Colleges Fail, due out early next year.
Some states are known for being innovative or expressive in outsized ways, with governmental policies that are often bold, and business entrepreneurship that is similarly spectacular in its magnitude. For example, among states with a liberal-progressive tradition, California is seldom dull and ordinary. Similarly, among states with a more conservative-libertarian orientation, Texas and Florida often […]
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James Moore’s recent epistle in this space, “The Rise of the Pseudo Faculty,” has jolted my aging brain to suggest an economist’s view on why college and university faculty have lost clout in their institutions over time. But first, a little history. If you asked a professor on an American campus 100 years ago, “Are […]
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Colleges and universities seem obsessed with race and other social “identities.” Diversity, equity, and inclusion (DEI) bureaucracies are often powerful on campus, and college staffs are sometimes required to swear fealty to “diversity” in order to secure and maintain employment. Yet polling data suggest a majority of the public opposes evaluating people at least partly […]
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The United States has been considered a truly “exceptional” place because it excels in so many ways. It has the biggest output of goods and services. It has had the most powerful military presence on the planet for many years. Its technological advances have been the greatest of any nation. And, more relevant to this […]
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I recently read in the Wall Street Journal that Stanford University had more administrative staff and faculty than it did students. Specifically, there were 15,750 administrators, 2,288 faculty members, and 16,937 students. The paid help of 18,038 (administrators plus faculty) outnumbered the customers (students) by 1,101. That gave me an idea for a stunning administrative […]
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I always thought that William Shakespeare was a bit too harsh when, in Henry VI, Part 2, he said “Let’s kill all the lawyers.” Given the antics of our nation’s leading law schools and the American Bar Association (ABA), however, perhaps Shakespeare was onto something when he penned those words over four centuries ago. In […]
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The latest brouhaha in higher education arose when New York University fired an organic chemistry professor teaching huge numbers of students, Maitland Jones, Jr. The headlines are revealing: “Top Med School Putting Wokeism Ahead of Giving America Good Doctors” proclaimed a column written by Dr. Stanley Goldfarb (former dean of the University of Pennsylvania School […]
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I have taught about the economic history of the United States and Europe over the last seven decades, beginning in the 1960s and extending into the 2020s. I believe all educated Americans should have a decent understanding of American economic exceptionalism, how over the course of four centuries the area known as the United States […]
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Most American colleges and universities are fiercely resistant to major change. The staff, especially administrators and senior faculty, think they “own” the institutions and enjoy their dominant role. Yet enrollment data and public opinion polls show that Americans increasingly take of dim view of our colleges and universities. Some think the only way to effect […]
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Like many other followers of the higher education scene, I weighed in on the Biden administration’s student loan forgiveness program last week, concluding that it was bad for America. In one iteration, I listed seven words beginning with the letter “I” to describe the policy action: illegal, inflationary, immoral, inequitable, irresponsible, irrational, and idiotic. This […]
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As I have mentioned in a couple of books and numerous media epistles, late in life the great economist Milton Friedman told me he wasn’t sure whether universities should be subsidized or taxed by governments. This was a change in position: In his Capitalism and Freedom (1962), in which he generally argued for a very […]
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There are two absolutely minimal essential resources for universities to exist: faculty, who provide the most important services educational institutions provide, and students, who are the customers that universities traditionally serve as part, and sometimes nearly all, of their mission. Yet at many schools, the faculty constitutes only a modest minority (perhaps one-fourth or so) […]
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Next to the Nobel Prizes, possibly the most prestigious and lucrative awards given to American academics are the annual so-called “genius” awards from the MacArthur Foundation. Last week, the foundation announced 25 awards, totaling well over $15 million. I found it curious that only three (12%) of those recognitions went to white or Asian males, […]
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Editor’s Note: National Association of Scholars Board Member Richard Vedder originally published this piece with Forbes on January 7, 2021. It has been removed from the Forbes website. Minding the Campus proudly republishes Professor Vedder’s article, slightly reformatted for the length preferences of our site. The National Association of Scholars, the publisher of Minding the Campus, […]
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America is arguably the most magnificent manifestation of the Enlightenment that transformed the world after 1500. Our nation was discovered and settled by adventurers and risk-takers embracing change and discovery. Founding Fathers such as Thomas Jefferson and Benjamin Franklin were curious about the world, innovative and creative, and believers in the emerging democratic ideal who […]
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New U.S. Department of Education data show that the number of postsecondary educational institutions in the U.S. declined 15 percent (from 7,234 to 6,138) between the 2012-3 and 2018-19 academic years, with fully one-third of the decline in the last year. In the past two years, total undergraduate enrollment has fallen by 627,000, more than […]
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Colleges rarely sue one another, so when little Hillsdale College in Michigan sued the much larger University of Missouri a couple of years ago, it raised some eyebrows. Hillsdale alleges that Mizzou blatantly violated the terms of Wall Street financier Sherlock Hibbs’ will, who left $5 million to his alma mater upon his death to […]
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The New York intellectual establishment has learned via a New York Times op-ed and a New Yorker story/book review that the high cost of college has “changed” (Times) or “transformed” (New Yorker) American family life. That is nothing particularly new or revealing, at least for millions of Americans living, as I do, in that vast […]
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Op-Ed. An estimated 14.67 million college students attend what we call “state universities.” Some of them are renowned highly selective research institutions like the University of California at Berkeley or the University of Michigan, while others are relatively obscure schools with an open admissions policy. But all receive some degree of subsidization from the state […]
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The recent college admissions scandal is spectacular in its size and scope, but hardly surprising. Let me make four major points. Whenever there are scarce resources in much demand and a non-market solution is used to allocate those resources, there are bound to be problems. At the schools involved in this admissions scandal, there are […]
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Stealing from Shakespeare: “Let’s kill all the accreditors.” In this kinder and gentler age, most of us would be content if college accreditors simply resigned their positions and did something useful, such as selling cars. When you buy a car, you pay about the same as a year’s tuition fee at a good university. Yet […]
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Two of our nation’s premier credit rating agencies, Moody’s and Fitch, have issued reports recently giving a negative outlook on the finances of American higher education. Of course, the financial condition of schools varies considerably: there are affluent ones with large cash reserves, billions in investments in their endowment, and robust demand for their services, […]
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An executive search firm in the not-for-profit sector, Kittleman, has recently looked at two groups of highly successful heads of organizations: the chief executive officers of the Fortune 500 corporations and their counterparts at the 100 largest non-profit organizations listed on Forbes. It is not surprising that the captains of industry and philanthropy mostly went […]
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America’s colleges and universities are in trouble: falling enrollments, declining public support, even the beginnings of a decline in our dominance in international rankings. While many factors are at work, here are the top ten things I think are destroying America’s colleges and universities. First, going to college is too costly. Tuition fees have roughly […]
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Nearly a decade ago, my then colleague Andrew Gillen suggested that one could say that higher education was in a bit of a “bubble”: over-exuberant “investors” in human capital, better known as students, were potentially misallocating their resources, becoming increasingly underemployed after graduation, leading to adverse financial consequences. In the private sector, bubbles, like those […]
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One provision in the new tax legislation is going to give scores of colleges and universities a lot of heartburn –the 21 percent federal excise tax on compensation of employees making $1 million a year or more. The idea of extra taxes on supersized salaries is not new: private corporations have paid excise taxes on […]
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Shocking news: the new Wall Street Journal/Times Higher Education college rankings say that Harvard is the best school in the United States. So does Forbes in its rankings, while US News ranks it second. Some eight schools (Harvard, Yale, Princeton, MIT, Stanford, Penn, Duke and Cal Tech) are in the top 10 in all three […]
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Right now, the biggest news in higher education is a controversial paper from Dimitrios Halikias and Richard Reeves of the Brookings Institution, arguing that “the upper middle class is substantially over-represented” in America’s universities, that “public investment…too often fails to produce either social mobility or socially beneficial research,” and that “the significant public subsidies spent […]
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Who gains as Purdue University acquires on-line Kaplan University? For Kaplan, the sale has strong appeal. For-profit companies have been maliciously maligned by politicians and leftist ideologues, and the Obama Administration tried to kill them through regulations that largely did not apply to traditional not-for-profit institutions. Students will like the prestige of the Purdue name, […]
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For universities and many colleges, this is the age of administrative bloat. The Office of the President of the University of California has roughly two thousand employees – doing no teaching or research. In just the Diversity and Engagement area of her office (which probably did not even exist 50 years ago), there are five […]
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