These days we are seeing a superabundance of govt giveaways and how strongly they are distorting market signals, incentives, and prices. From health to energy to college.
I find it humorous that with the govt lending students limitless funds, school tuition and thus student debt load have gone through the roof.
Standford university has about 17,000 students, 2,000 to 3,000 faculty, and… 17,000 administrators.
The University of Michigan hired 163 diversity equity and inclusion (DEI) officers.
By the way, there has been a major shift from using tenured and tenure-track professors to using part-time adjunct faculty. Costs order of magnitude less… Leaving more money to hire… more administrators.
It’s a Shanda.
It reminds me of a gemora that says if you leave a drunken man to his own devices he falls down on his own.
Shabbos 32a:
רב חסדא אמר שבקיה לרויא דמנפשיה נפיל.
By the way, this corruption of universities is simply a symptom of the general life cycle of nations:
Infancy, adolescence, mature adulthood, the decline of middle age, senescence, feedstock for archaeologists.