Another Round in the College Bubble Debate

This week John Stossel takes a stab:

I went to college. I got a BA in psychology from Princeton. But I didn’t learn much. Well, I did learn from my seven roommates. I learned about poker, chasing women, etc. But I was bored by my professor’s tedious lectures. I think I succeeded in TV because the professors were so boring. I wanted to use video to make education better. I learned how to do that on the job, at a TV station in Portland, Oregon. Princeton didn’t help. I never took a journalism course. My business is filled with people who did not attend journalism school.

What puzzles is me is why the market doesn’t punish colleges that don’t serve their customers well. The opposite has happened: Tuitions have risen four times faster than inflation.

Peter Jennings, Stossel notes earlier in his article, never went to college. He managed to do okay. But could he even get an internship with ABC News today? I doubt it.

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