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 Inequality on Campus," by Benjamin Wermund (Politico, 2017).
• Streaming, Sharing, Stealing: Big Data and the Future of Entertainment, by Michael D. Smith (2016).
• "Higher Education's Work Preparation Paradox," by Brandon Busteed (Gallup, 2014).
• "Let’s Level the Playing Field for SAT Prep," by Sal Khan (Khan Academy, 2014).
• "Race, Poverty and SAT Scores: Modeling the Influences of Family Income on Black and White High School Students' SAT Performance," by Ezekiel J. Dixon-Roman, Howard Everson, and John J Mcardle (Teachers College Record, 2013).

EXTRAS:

• "The Professor Who Said 'No' to Tenure," by People I (Mostly) Admire (2022).
• "Freakonomics Radio Goes Back to School," series by Freakonomics Radio (2022).
• "Is This the Future of High School?" by People I (Mostly) Admire (2022).
• "America’s Math Curriculum Doesn’t Add Up," by People I (Mostly) Admire (2021).
• “Sal Khan: ‘If It Works for 15 Cousins, It Could Work for a Billion People.’” by People I (Mostly) Admire (2021).

SOURCES:

• Michael D. Smith, professor of information technology and marketing at Carnegie Mellon University.