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Tyler Cowen: College Won’t Get Fixed. But It Also Won’t Disappear.
“Academic life will go on in something close to its present form,” writes Tyler Cowen. (Joe Sohm via Getty Images)
Colleges are less and less important for education. But their social function will keep the top ones thriving.
By Tyler Cowen
04.18.26 — Education
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Trust in universities has gotten so low that even colleges can no longer ignore it. A Yale University report released on Wednesday places much of the blame in the same place that the public does: the colleges themselves.

The problems cited in the report will be familiar to readers of The Free Press, as they include nontransparent admissions standards, grade inflation, a culture that forces self-censorship, and outrageous tuition pricing. This year, George Washington University—hardly in the top tier of selective schools—started charging a sticker price approaching $100,000 a year for the privilege of studying there.

Those problems have been hanging over academia, and getting worse, for years. But a second strand of issues, though not stressed in the Yale report, concerns the rapid progress of artificial intelligence. To put it bluntly, the AIs know more than many professors, they do not tire of answering questions, they explain things clearly, and they keep unlimited office hours. They are also far cheaper and can organize a class syllabus and grade tests. So what exactly is higher education supposed to be providing us with?

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Tyler Cowen
Tyler Cowen is Holbert L. Harris Professor of Economics at George Mason University and also Faculty Director of the Mercatus Center. He received his PhD in economics from Harvard University in 1987. His book The Great Stagnation: How America Ate the Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better was a New York Times best-seller. He was named in an Economist poll as one of the most influential economists of the last decade and Bloomberg Businessweek dubbed him "America's Hottest Economist." Foreign Policy magazine named him as one of its "Top 100 Global Thinkers" of 2011. He co-writes a blog at www.MarginalRevolution.com, hosts a podcast Conversations with Tyler, and is co-founder of an online economics education project, MRU.org. He is also director of the philanthropic project Emergent Ventures.
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