Uneducated at Any GPA: Is the Ivy League Today Big 3 Auto of the 1960s?
[On March 2, Quartz published my piece, Schumpeter Strikes Again: Why the Ivy League could end up like the big 3 carmakers: utterly disrupted. Here is an earlier, unedited version. Unedited means it has its flaws---too long for a magazine, too short for a book---but it develops some ideas beyond what Quartz had space for.] Uneducated at Any GPA Is the Ivy League Today Big 3 Auto of the 1960s? America's top universities today are like America's Big 3 car manufacturers of the 1960s: hugely profitable, projecting growth for decades, the envy of the world, dominating their markets, dictating terms to customers and employees, and accelerating to bankruptcy. Cars aren't diplomas, but besides the obvious differences between the fields, the systemic similarities suggest a need…
