The Collapse of the Ivory Tower: How to Fix The Higher Ed Crisis
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Higher education in the United States is in crisis. Student debt is out of control. Degree inflation is rising like crazy. How did we get here? How do we get out? This talk was first delivered at Carnegie Mellon University on February 7, 2016 to the Young Americans for Liberty chapter.
The Collapse of the Ivory Tower: How to Fix The Higher Ed Crisis
- 1. The Collapse of the Ivory Tower How The State Created the Higher Ed Crisis and How to Break Its Stranglehold on Success
- 2. $1,335,172,859,631 Outstanding Student Loan Debt as of 1:55 PM, 2/8/15 Greater than outstanding auto debt and outstanding credit card debt
- 5. So what?
- 6. So what? How did we get here?
- 7. So what? How did we get here? How do we fix it?
- 8. The Purpose of College Why do people put themselves through this? Education?
- 9. The Purpose of College Why do people put themselves through this? Education? Fun?
- 10. The Purpose of College Why do people put themselves through this? Education? Fun? Networking?
- 11. The Purpose of College Why do people put themselves through this? Education? Fun? Networking? A Job
- 12. How did we get here?
- 13. 1. Inception College was essentially a 4 year summer camp for the wealthy. A training ground for aristocracy. Pre Greatest Gen.
- 14. 2. Middle Class Mimetics The Middle Class mimics the paths and courses of the wealthy. The wealthy went to college. Therefore, they should go to college if they want to be wealthy. Greatest Gen.
- 15. 3. GI Bill Overconsumption The GI Bill made college a feasible option for many middle class families enamored with the idea of college as an option to get ahead. Employers put more weight in degrees to differentiate candidates as K-12 education becomes near-universal. Boomers
- 16. 4. Inflation As more employers require degrees to differentiate candidates, politicians push more aid to college and the pressure to attend increases. In order to differentiate candidates, employers raise degree requirements. Universities raise costs as incentive to attend rises. Rent-seeking via professional certification increases incentives Gen X, Y
- 17. Degree Inflation is Out of Control The US now has more janitors with chemistry degrees than it has chemists. Source: Richard Vedder, Center for College Affordability and Productivity, “Twelve Inconvenient Truths About American Higher Ed.” http://files.eric.ed.gov/fulltext/ED541358.pdf
- 18. This is what we’re subsidizing? Golf Management Puppetry Demystifying the Hipster Zombies in Popular Media Patternmaking for Dog Garments Juggling
- 20. "The result of making college the canonical path for the ambitious was a world in which it was socially acceptable to work for Henry Ford, but not to be Henry Ford." Paul Graham Founder, Y Combinator paulgraham.com/re.html
- 21. Gov’t Created This Mess Professional Certification Student Loans Cheap Credit GI Bill Visa Requirements
- 22. How do we fix this?
- 23. Two Options This is not sustainable.
- 24. Two Options This is not sustainable. 1. Degree Inflation to the Moon!
- 26. Two Options This is not sustainable. 1. Degree Inflation to the Moon! 2. Build a Better Signal
- 30. The Praxis Signal Is not a brand! It is the individual’s own signal. Past participants have: Launched companies Made $1M+ in sales Run major marketing depts Bypassed college altogether
- 31. Your Choice. Are you going to live indefinitely or build your life?
- 32. Contact zachary@discoverpraxis.com @zslayback facebook.com/zslayback LinkedIn.com/in/zslayback zakslayback.com I am local. Let me know if you would like to grab coffee and discuss these ideas.