>Part of a ponzi scheme is giving the impression of >returns. With the selling of "soft" degrees came the >need for teachers of "soft" subjects. > >I have witnessed far too many graduates of college, sons >and daughters of associates, emerging into the world, >only to realize (far too late) that the economy >of "college" is not the economy of the world and in many >cases it is an absurd comparison.
Exactly my point.
This fraud has been obvious to me for at least two decades. (How could anybody not see this? And yet, one school after another created these programs and one student after another signed up for them.) What I could not know (well, I did not work very hard at investigating) is the mass of this fraud. Surely, it would happen quickly enough that the market would discover the inutility of the ethnic studies laureates, and the laureates themselves would discover the worthlessness of their degrees---degrees that came at enormous cost in time and money.
How could the knowledge of this fraud not seep into the public consciousness, eventually? I mean, the individuals themselves must discover they were cheated; people around them, from friends and family to frustrated employers, must learn of this fraud. And yet, this seems to not have happened, so far. So far, people are talking about the impossibility, for many graduates, of paying back their loans, but the discussion seems to be in terms of helping them escape their debts. So far, I have heard nothing about the fraud that colleges have perpetrated on their students and on the tax paying public.
As best I can tell, the victory of the Education Mafia is complete. The re-election of the embarrassing Barack Obama---the candidate of incoherent essayists---is just icing on the cake.