Will America’s universities go the way of its car companies?
economist.com
economist.com
They seem to view Universities as a business proposal: "How much do we invest? How much do we get out of it?", which it shouldn't be. Take this quote: "If colleges were businesses, they would be ripe for hostile takeovers, complete with serious cost-cutting and painful reorganisations.”.
My feeling is that the person who said it is thinking of streamlining it, removing subjects which bring little profit, and increasing those with profit. So out goes "geography" but also "gender studies", and instead more money is put into "pharmacy", "genetics", "economics and MBA".
The result would be great from a business perspective, but that's what companies and business are for. If there's plenty of money many companies will be investigating in those subjects just as well.
Instead Universities should also help the student become full rounded, more knowledgable even of things that may not bring money, and should let professors study subjects despite there being no monetary advantage.
Where has the passion for knowledge gone? Let the student have a place to get knowledge, and the professor have a place to expand it.
I am however quite willing to pay with my own money so that I and my family can learn to appreciate literature and culture. I am also quite happy to support the artists whose work I enjoy. But I am not happy to have tax money support it until long after ever child learns the basics well and the local police department is fully funded.
[Edit, fixed typo.]
The fact is that a lot of social problems stem from cultural problems. You can keep throwing money and teachers at those kids down the street, but it won't get them to read. Instead, you need to change their culture (and their parents') to one of scholarship.
I find this "don't spend my tax dollars on anything that doesn't directly benefit me" attitude to be mean-spirited, but more importantly, to be one of the cultural problems that helps to foster the ills you cite.
He advocated spending money to educate illiterate people rather than already-educated people. I think it's pretty clear he isn't illiterate, so how is he advocating only spending money that directly benefits him?
I am not at all saying do not spend my tax dollars on things that don't directly benefit me. I said that we should not spend it on things like art and literature until after we have taken care of things like basic education, infrastructure, law enforcement, and yes even universal healthcare and gaurunteed access to sufficient food.
I am a great lover of America and I think (with perhaps some admitted bias) that it is a truly great country. But I know kids on my own block that can barely read and I pass by a homeless shelter with large crowds outside it on my way to work, and there is an active police officer sitting behind me in law school class because he doesn't make enough to support his family comfortably. I strongly object to spending tax money on art and literature until long after those issues are fixed.
And no, throwing money at those issues won't fix them, but it would be a start. Money is not sufficient for a solution, but I suspect it is necessary (or at least highly helpful).
I suppose it's different at schools that can afford to staff these classes at 1:15 student teacher ratios with good teachers but the money that was spent on making me a "well rounded" student would have gone a lot further if I'd just been given a pile of books to read and some time at a quiet desk.
I've composed a few half-responses, but I'm wrestling with what I'm trying to articulate.
I think what it comes down to is that the issues you cite will never be fully fixed. Second, but more importantly, the amount of money required to support cultural projects is tiny compared to, say, infrastructure upgrades.
So, I object to the idea that we can't do any of that (with tax dollars) until these other things are done. In reality, if we adopt that attitude, it'll be too easy for fear-mongers to kill any cultural project.
There is the thorny issue of the government using tax dollars to fund art work that I hate, or that offends me, but one of the cultural goods I value is a tolerance of that. I.e. I don't like that, but I'm glad to live in a society that could produce it, alongside the stuff I do like.
Are you saying that all art should only be commissioned by rich private interests? No investment in art by the public? You would demolish the National Mall, Statue of Liberty and other such art works?
Or do you draw the line at hoity-toity works (as decided by whom?).
IMHO, it is super important that societies develop the "refined" sides of the brain to control our atavistic instincts.
1, An educated population is good for society.
2, Education happens by going to university
3, People that don't want to study hard and become doctors/engineers/scientists can go to university and do media studies.
5, Since they have been to university they are educated and therefore good for society - see 1.
6, Since more people want to do media studies than chemistry the chemistry depts are be shut down to increase funding for media studies.
I think it was Socrates that said the unexamined life is not worth living. I guess I'd like to give everyone a chance at having a life worth living by exposing them to thoughts, ideas, and experiences that are essential to an enriched human life. This means teaching us all how to appreciate art, literature, music, etc. It also has the added bonus of making society a better place to live.
As to the Socrates quote, I think he was right. But I believe he was talking about introspection, not art, literature, and music created by someone else. And we as a society should be concerned with making sure everyone learns the basics they need to function in modern society before we worry about making sure those priveleged with already having those basics down can appreciate art on taxpayer money.
If we teach someone the skills they need to earn a respectable living they will then have every opportunity to pursue the arts with the money they earn. If we spend taxpayer money supporting the arts for those who are already earning a middle class income, we may very well be short changing those who are not.
I am personally a great fan of literature, theater, and certain types of music. But I purchase my enjoyment of those things with my own money because my father made sure I got a good basic education that enabled me to go to college first then get a solidly middle class job and now pursue law school at night while I work. I went to public school but my parents especially my father provided me his own time and materials bought with his own money to supplement that to make sure I learned well. I want to make sure that children whose parents cannot or simply do not do that still have the same chance I did.
EDIT: I should say to allow government to provide people with the opportunity to enrich their lives.
In Italy (where I come from) school is extremely generic, with around 12 subjects being taught in secondary school. University is similarly open, with courses being done simply because "it's good for the mind", and people being free to pick and choose courses, and even change degree.
On the other hand it's a very old syllabus (especially at school) so there is a lot of pressure to modernise it. But EVERY time someone tries to modernise it and decides for example to drop latin, or history of arts from schools and add a foreign language and computers, you hear an uproar of people who complain that school (and partially Uni too) shouldn't be a place to get you ready for a job (for those you can go to specialised colleges) but instead one to feed the mind.
But yeah, I agree with you that all societies are becoming less and less concern with non commerciable knowledge. And as long as we judge people's worth and achievements by their money, I have little hope this will change.
In contrast, if I (a programmer) were to quit, my company could probably not find someone willing to take the job for $35k/year.
It would be very shortsighted if society overpaid for college teachers, just as it would be shortsighted if they overpaid for military contractors or the stock of bankrupt automakers.
Some societies don't have the money to make these things available to everyone. That's a shame. The U.S. and EU are societies that can afford to make these things available to everyone.
Why downvote me when you agree with my original post. You yourself say that "soft majors are not wanted". Indeed, they aren't wanted but they are needed and it's a shame that they aren't wanted. There's a reason dictatorial governments always control the arts, music, and literature. They fear the ideas, the progress that these things bring to a country.
Think of the liberal arts in this way. Once we have what we must have to survive, then we can go after the things we want as humans to enrich our lives and those around us. I love art and English majors... I just can't enjoy Rembrandt when I need a place to live or clean water to drink or a sewage system, etc :)
It's probably unsustainable to have 175,000 psych and history majors[1] graduating every year with 10-20,000 dollars in debt[2]. (Not to speak of all the business/marketing majors)
I'm not saying that colleges should turn into work-training programs, but there's a huge impedance mismatch between the cost of college, the skills conferred by the degrees that most people get, and the rewards for those in the workplace.
At some point, the average decent public university degree (in a non hard-science) will cease to pay for itself over the long term. Then the only people doing the humanities will be those of a class privileged enough to afford them, which is an outcome that I don't think anyone wants.
Even when you take into account the often generous financial aid packages in the US, costs are still spiraling compared to benefits, especially in the less lucrative degrees.
1: http://nces.ed.gov/programs/digest/d09/figures/fig_15.asp 2: http://www.usatoday.com/money/perfi/general/2006-02-22-stude...
P.S. When the author states that universities are weak and "ripe for takeover" he then uses STEM funding being too spread out as an argument. This is stupid because if we did consolidate STEM funding like he suggests, it would probably go to mostly the 50-100 best universities in the country. This would only solidify those schools' power and work against his entire argument.
Meanwhile, my friend the psych/sociology major is out of work despite intelligence and conversational aptitude, and my friend the anthropology major works at a laundromat for what would be less than minimum wage in most other states.
These are people just as smart as I am, with much better GPAs. We all bought the "college => easy middle class" thing hook, line and sinker; I'm just lucky enough to have chosen a degree that pays.
The reason why the employers were so keen on them was not that they were going to use the subject itself (e.g. History) but the techniques. A history graduate can read _a_lot_ quickly, summarise it, and hand you a report. Those are great skills that are often required in a job (in some jobs more than others).
So impractical degrees may still be... practical. :) (that said I personally don't think a degree should be judge on how practical it is. But I agree with the poster above that if you do want to focus on things that give you better job prospects in the short run, then there are colleges (in the Canadian/UK sense of shorter, more focused higher eduction courses).
Biology is even worse--- its starting salaries are approximately the same as most liberal arts fields. Does biology get to stay because it's science, though, despite having no better a business case than English does?
The point is that, from my perspective, more people should probably be going to college rather than to University. It's not that we don't need thinkers, but that we need more thinkers that can translate thought into action.
EDIT: closed paren to avoid major bug.
I think that's the wrong way to look at it. The argument is always practical vs. impractical degrees - but that's not all of it.
The problem is twofold, IMHO:
- Impractical degrees are disproportionately expensive compared to their earning power. You learn a lot of stuff, go deeply into debt, and wind up not being able to pay it off. In short: impractical degrees are overpriced.
- Practical degrees are (in most places) worth the money, but unbelievably loaded in terms of curriculum. Students come up as one-dimensional idiots, who have been impeccably trained in one subject area and nothing else. This creates effective workforces, but creates ineffective citizens, contrary to the humanities (read: most of the impractical degrees).
The two problems are IMHO rather separate, but the second doesn't get nearly enough attention. I cannot begin to count the number of engineers I graduated with who had not even the faintest idea of how politics in our country works - or some of the most basic philosophies the nation is based on, or even the most basic of 20th century history. Few of them appreciate art to any degree, and even fewer practice some form of it themselves.
Our engineering programs are creating idiots - people who can design bridges and write code like no other, but are worthless as people otherwise.
My experience has been that arts students tend to be more aware of, well, life in general - politics, the arts, social issues, etc, whereas engineering students were more or less of the "oh, I've heard OF it..."
There are two beneficiaries to post-secondary education: the student, and society (particularly, democracy) at large. The problem here is that the way things are structured, the degree programs that will most benefit a free, democratic society will make you broke, forcing people to choose one that will most benefit themselves only.
We risk creating an entire generation of mindless, uncultured automatons hyper-obsessed with material wealth, wading knee-deep through a pool of educated but broke people.
It wasn't always this way - there was a time when getting an engineering degree also meant a breadth of education in indirectly related subject areas. Where engineers took music, sociology, and fine arts... I've noticed a rapid decline in breadth in engineering programs, though, and IMHO this is a silent problem that has yet to rear its ugly head in the papers.
If they had solutions, if they appealed to an analytical mind then you would have interested STEM students. Maybe there should be a course taught by top politicians, spin doctors and media moguls: `Hacking Public Consciousness'. I almost guarantee that this would attract the students you talk about.
What, and your statement that scientist and engineers don't care about anything else wasn't?
Look, this is all anecdotal, but the CS/science/math/engineering students I knew in school were generally voracious readers, well informed about current events, politically opinionated in a highly educated way, appreciative of the arts, and involved in extra-curricular activities. They were frequently well-traveled, multi-lingual, and musicians. They were reasonably well represented in student government.
Maybe the schools you went to were different, but this is my experience.
People need to realize that there is no need for 175k history major graduates each year and that they will probably never use their degree. The same goes for many other majors, but you know what, if you love it, pursue it, right? Isn't that what entrepreneurship is all about? Just be realistic about your path.
If the cost of schooling is getting out of hand then the people paying for it should do something about it, as some already are. See University of Puerto Rico: http://www.workers.org/2010/world/upr_0520/
Reality - arts degrees don't teach you how to think. They teach you how to argue more forcefully - give three reasons and a summary, not just one reason. Also, pretend to have considered the other side of the case before you dismiss it.
Reality - this cultural dialog is a bunch of guys with no idea of business or economics arguing about what is, essentially, business and economics.
In my mind, the original goal of expanding knowledge for its sake alone is the rightful place of "higher education" and in and of itself means that these institutions will be expensive to attend and therefore not for everyone.
The secondary purpose though of equipping a modern workforce is something that more and more, universities have chosen to assume. You fricken need a post-secondary degree to be a secretary these days. This is where the problem is.
Current institutions should be forced to accept their role as either the former or the latter. As a society we should place less emphasis on the need for the accreditations that stem from the former as well.
If the government is going to pay for this, there needs be a serious discussion about educational outcomes and what best serves the national interest. Should we subsidize people pursuing degrees in gender studies or Latino/Black/Asian/Minority Interest Group Studies, and if so, why? How will that make us more competitive in a global market or result in innovation that improves our quality of life?
Here, everyone I know who studied "STEM" subjects really had to put in some serious work to get their degrees. This was true from modestly ranked universities all the way through to the top places like Oxbridge and Imperial.
For people who studied humanities it was completely different. At the very top places/courses, yes, you would have a LOT of work. At least one large essay due a week, a mountain of reading material, and a deep appreciation of your subject. However just a few steps down, at slightly less competitive but still very well regarded institutions, I have friends who were given maybe three essays a term (semester), with many spending under ten hours doing anything related to their course in a given week. Sure, people are going do a lot of important growing up in their three years, but many will admit that their course is a bit of a joke, and they're doing it for the piece of paper, not because of an unquenchable thirst for knowledge.
Sorry if that sounds somewhat unpleasant, I didn't mean it to be. Universities should not be run in the cynical way that you fear, but something does need to change.
A place for knowledge, research and innovation is not a factory and can't be managed as such.Full roundedness is a financial luxury, of concern only to those who are financial at least relatively well off.
If universities are serious about the love of knowledge, learning for learning's sake, and all that jazz, then they should offer 100% free degrees.
If you have your own place to live, and can do the work, you should be able to get a degree full of well roundedness for absolutely no money.
They seem to serve two different customers. Teaching is really for students to educate them and season them up for life. Research is for the government or business and makes the professor and university money.
I think we can all remember a hard core research professor who could not teach a class worth a damn. On the other hand having students proximal to research projects is good for both; students receive early job experience and research projects have access to cheap educated labor.
What business model in the future should universities follow?
Further, research subsidizes teaching at most research universities, not the other way around. Universities take almost half of the NSF's budget in the form of "overhead", most of which is subsidizing teaching and general university waste.
There is also a major harm - most people are not good at both research and teaching. By merging teaching with research, you force people to perform two tasks, only one of which they are well suited for. The job "professor" is about as nonsensical as "ninja developer"; if we merged assassination and development, the result would be pasty white nerds getting shot by bodyguards and sneaky Japanese guys providing endless material for DailyWTF.
As I said, the merger of the two is a public good. It makes research a fundamental part of our notion of learning, and it makes undirected research possible.
I'm firmly in the teachers should do, and doers should teach camp. Society as a whole is better off if there is cross-pollination between these two fields. If you can only do, no one will benefit from your knowledge. If you can only teach, what exactly are you teaching? So teaching is not 'waste.' Industry would do well to allocate significant resources to teaching, and in fact they do. Government has more freedom to think long-term and focus on fostering more researchers at the expense of present gains. If you had your way, it would create significant gains in the next ten years, but out 20-30 years, there would be a significant drop off.
In fact, there's evidence we're already experiencing this drop-off, due to declining school funding, both at the university and k-12 level.
Most grant supported research groups do plenty of undirected research, and the NSF rarely objects when a project makes discoveries not listed in the grant proposal.
You are telling me that (roughly) doubling the amount of money devoted to research will harm research? I really don't understand the mechanism by which that would happen.
"If you can only do, no one will benefit from your knowledge."
Let me be very precise, since you seem to want to misinterpret what I wrote.
A researcher's skill set: generating new knowledge and spreading it to other researchers, and eventually practitioners. This is done through published papers, presentations at conferences, conversation and source code. Generating new knowledge is the primary skill here - other researchers will usually go to great effort to understand it.
A teacher's skill set: understanding existing knowledge and spreading it to people with no background in a classroom setting. The primary skill is motivation and understand people very different from you (e.g., premeds who hate math rather than other math Ph.D.s), and maintaining discipline. The goal is to convey existing knowledge, so creating new knowledge (the primary skill of a researcher) is more or less irrelevant.
There are not that many people who have both of these skill sets. I only had the researcher's skill set, and I know many people with the teacher's skill set.
Also, by "waste", I was referring to general university waste - overpaid and under worked administrators, duplicate offices, etc. If you ever work at a university, you will realize how wasteful they are.
[1] I believe the system was that every dollar AT&T lost at Bell Labs was deducted from their tax bill.
Again, because you are taking that money away from education. Good education is a fundamental part of good research. They don't need to be in the same building, but they do need to have the same people involved, if only that the researcher was at some point educated.
>There are not that many people who have both of these skill sets. I only had the researcher's skill set, and I know many people with the teacher's skill set.
It doesn't matter. You should try to teach anyway. If you're any good at what you do your experience will be worth something to the people you teach. You experience is in many ways more valuable in teaching 30 students for a year than it is applying that experience. Education is a multiplier, not simply additive.
Obviously, you need both. But trying to do each in a vacuum is short-sighted.
In any case, yes, I agree with you that most researchers will need to have some sort of undergrad education. I don't see any reason why that education should be provided by researchers - cheap adjunct professors seem to do a reasonably good job at it.
(I do agree that a PhD program will need to be taught by researchers, since it is basically just an apprenticeship.)
As for teaching, my experience was worth considerably less to my students than a better ability to explain simple concepts would have been. The fact that I developed a nice outgoing wave filter for the Schrodinger equation did not help my fashion business student who barely knew algebra. It didn't even help the top 2-3 students who were breezing through my class, who might (possibly) have understood the concept of a PDE, or at least nodded along as if they did.
What might have helped them was someone who (like them) struggled with calculus, mastered it, and knew where the difficult points were. It also might have helped to have someone who could get to know students, understand how they learn best, and then tailor the lessons to suit them. Or someone who can look at a sea of blank faces and determine when they are confused. Unfortunately, that person wasn't me. I know a number of people who are that person, but only a small fraction of them have published anything beyond their PhD thesis.
Or, to put it another way, the problem is not that academics do research, it's that no-one else has read and understands the relevant literature to be able to teach up-to-date at that level.
Why not create a university that gets good academics who can also teach (train them if necessary) and pays them good money to do the teaching well. They would continue to do research somewhere else. That somewhere else would be a university with grad students, but no under-grads, and it would pay on the basis of research alone, with no internal teaching.
It is just---and this is just my opinion---that as human knowledge became bigger and bigger, what the people at the edge, pushing the envelope do, is further and further from what a 1st year undergraduate does.
Basically we would need another school in the middle for what is a BA/BSci for example, and use univeristy (and university professors) for masters and phds.
As for your example of hard core research professor, the problem is that at one point the number of professors who know a subject become very very small, and hence it's important to put the student directly in contact with those who are expert in the field. Alas it doesn't always work. But for very high levels (masters and phds) that's the only way it can be.
Feynman gained a reputation for taking great care when giving explanations to his students and for making it a moral duty to make the topic accessible. His guiding principle was that if a topic could not be explained in a freshman lecture, it was not yet fully understood.
This may or not be correlated with the actual advice but it is certainly correlated with the difficulty of the admission process, and this forms a positive feedback loop. Top universities also have on their side the fact that having rich parents very much correlates with future success, which in term helps perpetuate their prestige and ability to charge more for admissions.
I wouldn't say it's "incredibly good financial aid", especially in light of the nightmarishly high tuitions universities now charge and the fact that an inordinately high percentage of people have to take on nondischargeable debt. It's price discrimination. I'm not saying this is a bad thing; it's arguably for the better that colleges do this, because if they didn't, poor students would have no hope of attending, but price discrimination is still what's happening.
Also, only a token number of low-income students are admitted to the top schools, due to "extracurricular" admissions criteria that are socioeconomic by design. This is why these universities can fearlessly offer need-blind admissions; poor kids rarely pass the extracurricular hurdles.
> Also, only a token number of low-income students are admitted to the top schools, due to "extracurricular" admissions criteria that are socioeconomic by design. This is why these universities can fearlessly offer need-blind admissions; poor kids rarely pass the extracurricular hurdles.
Since we're talking about top schools, let's focus on Yale. Enough people with some degree of need are passing the "extracurricular hurdles" that 55% of Yalies receive financial aid. Yale spends nearly $100 million annually on financial aid. And this is up from roughly $32 million in 2001. This is not just a "token" expenditure, nor is it a token growth in spending.
The vast, vast, vast majority of people in that 55% are not even remotely poor. Most are of upper-middle income and of even higher socioeconomic status (e.g. progeny of diplomats, famous art gallery owners, and esteemed professors who make a merely upper-middle income but are higher in social status).
Yale spends nearly $100 million annually on financial aid. And this is up from roughly $32 million in 2001. This is not just a "token" expenditure, nor is it a token growth in spending.
It "spends" that money by giving aid packages that can only be redeemed by purchasing their extremely expensive product. Don't get me wrong; I think it's better for universities to price discriminate in this case than for them not to do so. However, it's not accurate to claim that they're bending over backward to provide equal access to the poor, as they're demonstrably not doing this.
The real systemic problem is in our primary and secondary education systems. Equality of opportunity does not exist at those levels, and this hurts people thereafter. I see no reason why elite universities should be the vehicle by which we purport to "correct" this glaring defect in our educational system. The problem is much too large for that.
(I suspect that, in what I write below below, I must not be responding to your actual point, but can you clarify what your point is?)
It's not like Yale is giving lip service to aid - it's giving $92,000,000 annually. This means that, on average, each Yale student gets $17,700 per year.
But since we know that 55% receive financial aid, it means that among those who do receive aid, the average package is $31,000 per year.
55% of Yale students get almost their entire tuition paid for by the university. This is not counting outside scholarships, etc. This isn't just "some" aid - this is a huge amount of aid on an annual per-individual basis.
The stat that is traditionally used to show socioeconomic diversity (or lack thereof) is the % of students receiving Pell Grants, and in this department Yale remains weak, but it's not for lack of effort...
While median / average family income at Yale remains fairly high, financial aid is huge. I'm someone who gets crushed in the fuzzy middle range, but I still appreciate its generous policies. Wish that they were more generous, or that the cost of living in the greater Boston area was lower so that my family income was lower and aid was correspondingly higher. That's one big bummer - something reasonable in one part of the country might make you rich in Oklahoma, but that can't be, or isn't, taken into account.
:(
But the private ones in the middle that charge high tuition & fees, are not particularly renowned, and have come to rely on easy credit for huge student loans are going to struggle.
For example, San Jose State University here in Silicon Valley, doesn't have the reputation that a top tier school has, but you can still get a very good education, in some ways better than at a more prestigious school. In California's CSU system, teaching is emphasized over research. Perhaps due to practice or self selection, most professors at SJSU seem to be very good teachers. Professors have few (if any) graduate students so they have more time for undergraduates and there are more research opportunities for undergrads.
Thats the problem: The deal isn't go to university and learn stuff. The deal is go to university and you will get a better job, the extra salary you make will pay back the tuition and lost years of income.
As more people go to uni the more the market segments - it becomes go to Harvard/Yale, you will pay 10x as much in tuition but earn 100x as much in salary. But go to nowheres ville U and your extra salary is 0.
The problem is that for this (and the previous) generation the extra salary no longer pays back the costs.
In my entire life before moving to SF, I knew only a handful of Ivy League graduates. Here, nearly every other person I meet is an Ivy grad, or a grad from a top-tier research school, such as MIT, Stanford, etc. It's gotten to the point that I'm fairly surprised when I meet people here who went to lesser-known schools. Credentials are still important, even in the so-called egalitarian world of technology.
Call me cynical, but if you're reading this and hoping that the imminent collapse of the university system ushers in an egalitarian utopi, you might be waiting a while. Credentials will continue to matter -- they just won't be accessible to anyone but the rich.
My main complaint with US universities (from my experience) is lack of focus on producing the brightest people possible. It's simply too easy to be "undecided" for 3 years and end up with a wishy-washy degree that doesn't prepare you for much.
Once I realized that grades were a low standard, I started setting my own standards and put in a lot of extra time and effort that ended up getting me a good job right out of college.
So the comparison of universities (at least undergrad) being lazy, like the car companies, I can agree with (again, from my experience). Higher standards and expectations of student performance are needed.
MSEE Stanford
So if you are a funding agency, you rank the proposals from best to worst. If you continuously added money to the agencies budget, the quality of the proposals would get lower and lower. I believe that is what one means by diminishing returns.
What actually matters is not whether returns diminish, because this tends to happen right away if inputs are allocated to the most efficient projects, but the point where the marginal value gained is less than the cost of the input.
No, but it does mean there exists a point where you should stop eating more calories.
The university prices are obviously on an inflationary course, but how else do they compare to the world outside?
An undergraduate gets into Univ A and Univ B. Which one does he choose?
A highly promising young researcher is recruited as a faculty member by univ A and univ B. Which does he choose?
The difference between these questions also explains why some ratings place large, public research universities in the top few spots, and why in others (like us news), none of them crack the top 20.
Of course, top faculty and research can be a draw for undergraduates, so they aren't totally unrelated, but grad (especially phd) students are far more influenced by the second question as well.
Then when our Universities and our R&D started to decline, we said "We don't need our Universities and R&D, we have our Service Economy".
Then when our Service Economy went offshore, we said "We dont need all our Service Economy, we have our Financial Services Economy".
Everything outside London is a wasteland. The average wage is subsistence living, if you make one at all. But the Alphas live in a magical city, where cocaine and girls are all easily affordable on multi-million pound salaries.
The UK once ruled the world. The US couldn't be following us down to ruin better if we'd given them a map.
As a result, the only way this could be achieved would be by government intervention, but big business has that in their pocket, and the populace firmly convinced that globalization is good for them.
With university degrees, quality of education is second and prestige is first in importance. These are correlated but not always the same, and this is one of the reasons why academia is not vulnerable to upstarts, unless there's a radical shift in how to evaluate prestige (and I doubt there will be).
Both are vocational necessities for most professionals in the U.S., but the "prestige" of the car one takes to work is irrelevant whereas that of the degree is essential.
There is nothing intrinsic in education which makes the university's prestige the most important. Look outside USA, e.g. at northern Europe where the prestige of the university is not important, but the grades and (esp.) the person are.
For some professions the university and grades is all that's considered when employing someone. But for others (e.g. programming) you need to test the person yourself because the university and grades doesn't tell you (reliably) how good the candidate is.
In many small programming shops I know of, whether or not you even have a degree is irrelevant for pretty much this exact reason. A healthy GitHub portfolio & a blog with some reasonably insightful articles > any CS degree you can name (including MIT).
If a 16-year-old asked you, sincerely, what the best past forward for a programmer was for them, would you unhesitatingly recommend uni? I have my doubts.
I have felt for some time that the best education in CS is a macbook pro and a 2 year backpacking holiday and this conviction is only growing over time.
The point is, social signalling is very important in both cars and degrees, and if I had to rank them, I'd say car prestige could even matter more than car quality, whereas education is the other way around.
The situation is even worse if Upstart Tech is non-accredited. Unfortunately, it will be very difficult for Upstart Tech to become accredited if it doesn't behave exactly like Dinosaur Tech - most of the requirements consist of measuring inputs (e.g., contact hours, student services), not outputs (student knowledge).
If people were like a car, you could push the accelerator to make them move quickly, but there is no accelerator to push to achieve the goals of universities.