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Higher Ed, Income Inequality & the American Economy (Part 4)

October 8th, 2014 by dfarish

In the first of three parts of this series, I discussed the general topic of what has been called a “jobless recovery,” following the Great Recession of 2008. In parts two and three, I examined at length the culprits that have been implicated as being the cause of our weak economic recovery: an outmoded and, to date, unresponsive system of higher education; and income and wealth inequality.

Analyzing the root causes of this unusually poor economic recovery is important not merely to ensure that blame is correctly assigned. The real importance lies in our efforts to remedy the problem: If we are focused on the wrong cause, not only will our solution fail to revive the economy, but also the potential for harm in repairing something that wasn’t broken could be enormous – and, in the long run, further negatively impact the nation.

Higher Ed, Income Inequality & the American Economy (Part 3)

September 30th, 2014 by dfarish

In my last post, I considered the claim that more and better education is the answer to fixing our troubled economy. However, as I pointed out in the first post to this series (Sept. 8), there is a second explanation to the uneven nature of America’s economic recovery from the Great Recession: the game may be rigged to favor the very rich at the expense of everyone else. If this explanation has merit, then trying to repair the economy through more and better education will eventually prove to be not just futile but potentially very destructive to long-established institutions of higher learning.

Higher Ed, Income Inequality & the American Economy (Part 2)

September 17th, 2014 by dfarish

Last week, I provided an overview on a topic of vital importance: the highly uneven nature of America’s economic recovery since the Great Recession of 2008. Corporate America and its shareholders are doing very well – but the great majority of wage earners are not. What accounts for this unevenness? Noted Harvard economist Gregory Mankiw is quoted as saying, “The best way to address rising inequality is to focus on increasing educational attainment,” (The New York Times, “Income Inequality and the Ills Behind It,” July 30, 2014). Is this statement true? Or does the real answer lie elsewhere?

Higher Ed, Income Inequality & the American Economy (Part 1)

September 8th, 2014 by dfarish

Almost every week for the past two years, I have been posting opinion pieces to this blog that relate to the current issues and challenges facing higher education nationally, and that provide details about the solutions we have been developing and implementing at Roger Williams University. I have tried to call things as I see them. Where I felt it fair and appropriate, I have not been shy about being critical of higher education in general, and the practices at some campuses in particular.

At the same time, I have endeavored to place the issues facing higher education in the broader context of 21st century America: not every problem that involves higher education can be fairly attributed to the actions of our colleges and universities, and not every problem that involves higher education can be solved by higher education, either as individual campuses or in the collective.

The Ultimate Question: "Is College Worth It?" Part 3

August 4th, 2014 by dfarish

In Part 1, I argued that the proper way of determining whether college was worth the investment was first to examine four distinct concerns—high cost, high debt, scarce jobs, and low graduation rates.  Last week, in part 2, we looked at the first of these concerns: has college simply become too expensive for many families? This week, we’ll examine the second concern:

There is a student debt “bubble” that is preventing young college graduates from buying homes, starting families, and thereby acting as a drain on the entire economy.