Broken Business Model in Liberal Arts

Steve Kolowich:

Maybe what the liberal arts needed was a full-blown depression.
“A couple of years ago I had great hope, because of the externality of the economic situation,” Martin Ringle, the chief technology officer at Reed College, told a room full of fellow audience members at a summit of the National Institute for Technology in Liberal Education (NITLE) on Thursday.
“I was really hoping, contrary to all of my better judgment, that things would really go into the toilet,” Ringle continued. “Because if we didn’t stop at recession — if we went all the way down to depression — maybe that would be enough for the economic forces to require us to change.”