Whose Higher Ed Bubble Will Burst?
Religion & Liberty Online

Whose Higher Ed Bubble Will Burst?

College Freshman
College Freshman

Consider the following (emphasis added):

“Higher education is an industry in danger,” says Clayton Christensen, the Harvard Business School guru and a senior advisor (unpaid) at Academic Partnerships. “It’s very plausible to say that 15 years from now half of the universities that exist will be bankrupt and in some fundamental way facing extinction and the need to totally change themselves.” (Caroline Howard, “No College Left Behind,” Forbes, 2/12/14)

Richard Lyons, the dean of University of California, Berkeley’s Haas School of Business, has a dire forecast for business education: “Half of the business schools in this country could be out of business in 10 years—or five,” he says. (Patrick Clark, “Half of U.S. Business Schools Might Be Gone by 2020,” Businessweek, 3/14/14)

What do you think? Are the doomsayers about the higher ed bubble generally too pessimistic? Are there discernibly different markets for different kinds of higher ed.? If Lyons is right about the dynamics of B-schools, are there similar dynamics at work for divinity schools and seminaries? Are such religious institutions more or less vulnerable?

There’s no shortage of those warning about various iterations of a higher education bubble. It’s almost a cottage industry. Are they Chicken Littles or true prophets?

For more reading, consider the Controversy in the Journal of Markets & Morality, “Should Students Be Encouraged to Pursue Graduate Education in the Humanities?”

Jordan J. Ballor

Jordan J. Ballor (Dr. theol., University of Zurich; Ph.D., Calvin Theological Seminary) is director of research at the Center for Religion, Culture & Democracy, an initiative of the First Liberty Institute. He has previously held research positions at the Acton Institute and Vrije Universiteit Amsterdam, and has authored multiple books, including a forthcoming introduction to the public theology of Abraham Kuyper. Working with Lexham Press, he served as a general editor for the 12 volume Abraham Kuyper Collected Works in Public Theology series, and his research can be found in publications including Journal of Markets & Morality, Journal of Religion, Scottish Journal of Theology, Reformation & Renaissance Review, Journal of the History of Economic Thought, Faith & Economics, and Calvin Theological Journal. He is also associate director of the Junius Institute for Digital Reformation Research at Calvin Theological Seminary and the Henry Institute for the Study of Christianity & Politics at Calvin University.