The point was still the credentials.
Otherwise what signal does “prominent family and graduated from Harvard” have over just “prominent family”?
Otherwise what signal does “prominent family and graduated from Harvard” have over just “prominent family”?
The credential was certainly something - a more easily understood distillation of the of connections and status that got you there. But that's not exactly professional the way a degree in Business is.
Besides, were there not other high-minded notions that underpinned that credential - ideas of self-development and virtuous leadership? And more crass notions of polish and status? Were these not the self-justifications of these elites, made manifest through the institutions?
As a side note - I do strongly suspect elite schools will bring these ideas back. If not for virtue, for necessity - as schools seek to self-justify in ways that go beyond the dollars they risk losing.