At $50,000 a Year, the Road to Yale Starts
at Age 5
The Economist
on the university-admissions scam
https://www.economist.com/united-states/2019/03/14/american-prosecutors-uncover-a-huge-university-admissions-scam
There’s a reason that powerful parents scrambled to get their kids into the Ivy League rather than a rigorous, practical school like Caltech or MIT
There’s a reason that powerful parents scrambled to get their kids into the Ivy League rather than a rigorous, practical school like Caltech or MIT
https://www.bloomberg.com/opinion/articles/2019-03-28/admissions-bribery-scandal-pretending-degree-has-value-is-a-scam
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Elaine Ou notes:
“As any remaining illusion of a college meritocracy swirls down the drain, there remains one school where students are still admitted based on unadulterated academic aptitude: Caltech.
No bonus points for legacy applicants, nor for star athletes. Even if an underqualified student does happen to slip in, they don’t have an easy way out. The California Institute of Technology does not engage in grade inflation, and the four-year graduation rate stands at 79 percent, well below that of its elite peers….
As long as Ivy League alumni occupy positions of power, academic credentials will remain costly and scarce. Ongoing credential inflation is not evidence of a bubble about to burst, but a reflection of how successful the elites are at convincing the greater populace that degrees are valuable.”
Interesting piece: $500,000 a Year Yet Struggling? Let's Do a Double Take
Noah Smith notes:
“Ultimately, living a happy life probably requires letting go of envy and appreciating what one has. But it’s also no wonder that so many Americans, even members of the elite, yearn for a more equal society. Even wealthy people might benefit from a smaller gap between the classes.”