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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 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?

"It's the Economy, Stupid!"

February 24th, 2014 by dfarish

 

During the presidential election campaign of 1992, and on the heels of a short, sharp national recession, James Carville, a political advisor to the Clinton campaign, famously characterized what the election was all about by coining the phrase that I’m using as the title of this blog post.

Now here we are, 22 years later, and in every political campaign since the Great Recession of 2008, this same phrase—although now tellingly focused specifically on jobs—is the basis of the platform of almost every candidate for office.

The problem is that the focus on jobs—understandable, given that in almost six years the economy has not fully restored the jobs lost in 2008 and 2009—goes well beyond mere political sloganeering.  It permeates every conceivable facet of society:

Colleges Must Fix All of Society’s Ills – Or Else! (Part 2)

January 21st, 2014 by dfarish

Last week I complained about unreasonable expectations being placed on colleges and universities. I rather quickly assembled a list of 10 such issues (there are actually a few more), and I indicated that in Part 2 of this topic, I would offer an opinion about what higher education can (and should) do – and what is simply beyond our capacity to correct.

I’d like to start with three related issues that represent numbers 1, 2 and 7 in my list from last week:

  • More low-income students need to be admitted at top private schools;
  • The pipeline to college must be widened; and
  • It’s all about college completion rates.

On January 16, President Obama convened more than 100 higher education officials (most of whom were either the presidents of elite colleges or heads of community colleges or public university systems) to seek commitments on four areas of concern:

Colleges Must Fix All of Society’s Ills – Or Else! (Part 1)

January 13th, 2014 by dfarish

It’s an interesting time to be a university president. Not a week goes by that someone doesn’t raise a new expectation of what universities can or should be doing. Often, this expectation comes in the form of criticism. Sometimes, it arrives as a recommendation about improving a process.

Taken collectively, the various tasks and expectations now being dropped on higher education administrators are often highly unrealistic, frequently mutually exclusive, and ultimately are doomed to fail.

It’s time for a little straight talk. Let me start by acknowledging two things.

First, higher education in the United States has, at least for the last 150 years, been more responsible than any other component of our society for the American success story – both as a country and as the ladder to individual prosperity and accomplishment. We should therefore be wary of radical changes to a proven track record.