Should Colleges Go on Forever?

Not if there's something better.

I’ve read several pieces lately basically asking whether Harvard University should be saved from the onslaught of Trump administration attacks. I think it should – you can find Harvard utterly insufferable and still see what Trump is doing as illegal and a threat to free society – but there is a bigger question we should be asking: Should we be upset when any college fails, as long as it does so because it cannot attract enough paying students or other voluntary support to stay in business?

This Monday, the Cato Institute will be holding a very timely forum to get at that question on a system-wide basis. Economist Richard Vedder will discuss his new book Let Colleges Fail: How to Unleash the Power of Creative Destruction in Higher Education. I haven’t yet read the book – don’t worry, I won’t be moderating the discussion – but I’d be shocked if it didn’t contain myriad keen insights and recommendations. Vedder has decades of experience both in the Ivory Tower and taking its residents to task.

The basic premise – unleashing creative destruction – is often a controversial, but ultimately good, thing. We tend to lament the passing of anything we currently have, especially if it supplies our livelihood or has played a significant part in making us who we are, but creative destruction is necessary and beneficial. While we might mourn the loss of the proverbial buggy whip, especially if we produced it, we are on the whole much better off with automobiles.

Knowing Richard Vedder, this should be an informative and highly engaging discussion. If you have any questions for the good professor, you can come to Cato if you are in DC area and maybe ask one right at the event. If not, you can watch online and submit it on whatever platform you’re using. And if you have anything to discuss on this post, leave a comment!